The ARK Innovation ETF has chopped in a range for the last two years, and some traders may expect a push back to longer-term lows.
The first pattern on today’s chart is the rounded top in February and March. It was slightly below the peak of December 2023. The lower monthly high may suggest bears remain in control over the longer term.
A sharp drop in early...
... for a 43.00 debit.
Comments: High IVR/IV at 52.7/38.7.
Going monied here, buying a Johnny one lot and selling the -75 delta call against to emulate the delta metrics of a 25 delta short put to take advantage of elevated IV on the call side and to have built-in position defense via the short call. This is slightly shorter duration than I like to go (39...
ARKK started its rally in November 2023 and reached $54.52 in December 2023. Since this date, according to Elliot Wave Analysis, it may be making an ABC correction. ARKK, which made the A wave by falling to $ 44.63, then rallied to $52.06 with the B corrective wave.
As long as ARKK stays below $52.06, ARKK may be making wave C. At the end of this movement, it may...
➖ On the 26-Dec session we have an inverted hammer candlestick pattern to signal the top of a trend.
This inverted hammer is followed by four weeks red; Inverted hammer as reversal signal confirmed.
ARKK produced an upper wick this week, now trades red.
➖ The action moved below EMA100, mid-term bearish potential confirmed.
Multiple bearish signals confirmed. We...
Ark Innovation ETF (ARKK) hit today its 1D MA200 (orange trend-line) for the first time since the November 13 2023 bullish break-out. This puts the price in the middle of the long-term Channel Up pattern that started on the December 28 2022 bottom.
As long as the price action closes the 1D candles above the 1D MA200, we expect an instant rebound. If it breaks...
Looking for continued consolidation within this zone above 46, and a retest of the range highs. This would confirm a partial decline and statistically favor a breakout of the range.
Id look at this as the sign of strength, as we have diverged from the bear market downtrend, made a new high locally after a second higher low, while maintaining support above a...
This is the first in a series of posts on Gaps. Gaps are a sudden supply/demand imbalance that shows up in the price bars of a chart, It's the expansion that comes after a contraction. Gaps will show us a significant area of buyers/sellers that take control and when they lose that control.
In the video, I discuss and define a Wide Range Bar (WRB) Gap and show how...
The current pattern in the ARKK ETF suggests a possible upward movement towards the 60/70 range by June 2024. However, if the stock shows weakness and falls into the 46 to 49 range, it may present a more balanced risk and reward scenario.
AMEX:ARKK Mark Minervini made famous the VCP as a set-up. It is also simply a wedging pattern that can break either way. However, where there was a previous uptrend, like in this chart, the direction of the break is usually to the upside. The path of least resistance is a continuation of the previous trend.
ARKK had a move of over 60% from the Oct 30th low to...
Here's a previous forecast on ARKK forecasting a possible low in this area.
Spiking out the low of a parabolic rally is a very common occurrence in this type of pattern. It's a big panic point when all gains have been lost even if in very early to the rally. Often we see ultimate lows in these areas (Commonly off slow ranges) and even with things going much...
There is an inverse head and shoulder getting formed on the ARKK weekly chart. The pattern materialized after a weekly close above $54.5.
The target after the breakout comes to $98 levels.
The strength of the move can be confirmed by:
1. Rising MACD and RSI Moving Average and
2. ADX is above 20
To maintain confidence in the setup, i would like to see the...
Momentum, Growth & Innovation: Updated Watchlist
www.tradingview.com
My updated trading watchlist includes a diverse range of companies across various sectors, prominently featuring technology, healthcare, and finance, among others. These companies, currently part of ARK Invest's holdings, are identified as being in a confirmed Stage 2 uptrend, indicating strong...
See my recent published chart on NVIDIA. Now look at the ARKK comparison.
Red point of control "1" (44) was when ARKK was at all time highs 160
Yellow point of control "2" is the current poc (38)
ARKK when modeled from the Oct 2023 rally base
shows an inflection at VWAP 1x as support and 2x as resistance.
It's been hovering just above -1 sig where it touched a Weekly
level a whopping 3x. Yesterday it swept below it and this morning
it's rallying on the 5 min. If it had run the weekly level lows it'd be another story
But for now I'm viewing it as a...
ARKK
First Target 55, then breakout higher into the 60s and 70s.
I think 55 by end of year and 60s Jan 2024
Possible retracement to 50s if 55 fails to hold.
I believe AMEX:ARKK is testing volume area high in this sideways trading range as a last point of support after Weiss OI waves showed significant buying and weakening sell-off retracements. A bounce and new high off VAH (Volume Area High) could spell mark-up for $ARKK.
Set-up currently looks very bullish.
Targets above: $54, $60, $70, $81, $90
Stop Loss would be: $43
Trading Idea
1) Find a FIBO slingshot
2) Check FIBO 61.80% level
3) Entry Point > 47/61.80%
Chart time frame : D
A) 15 min(1W-3M)
B) 1 hr(3M-6M)
C) 4 hr(6M-1year)
D) 1 day(1-3years)
Stock progress : B
A) Keep rising over 61.80% resistance
B) 61.80% resistance
C) Hit the bottom
D) Hit the top
Stocks rise as they rise from support and fall from resistance. Our...
