ARKK: V-Shaped Recovery OTW?
When taking a glance at Ark's Innovation ETF, multiple indicators are signaling a potential bottom at these prices.
1.) On the weekly logarithmic chart, ARKK touched long-term support on March 14th @ ~ $55 and quickly bounced back to its 0.618 fib level.
2.) Since November 2021, ARKK has remained in a harsh downward channel and is finally showing signs of a possible break.
3.) When observing the MACD on the weekly chart, we see that it has printed a new bottom while the price makes a higher low on a 5-year basis. Given the right conditions, this is signaling bullish divergence and could result in a face-ripping move to the upside.
For all of the reasons above, I believe ARKK has the possibility of breaking its 5-month downtrend and returning to the next significant resistance fib level @ $96.
NFA, just my own opinion based on personal research.
1.) On the weekly logarithmic chart, ARKK touched long-term support on March 14th @ ~ $55 and quickly bounced back to its 0.618 fib level.
2.) Since November 2021, ARKK has remained in a harsh downward channel and is finally showing signs of a possible break.
3.) When observing the MACD on the weekly chart, we see that it has printed a new bottom while the price makes a higher low on a 5-year basis. Given the right conditions, this is signaling bullish divergence and could result in a face-ripping move to the upside.
For all of the reasons above, I believe ARKK has the possibility of breaking its 5-month downtrend and returning to the next significant resistance fib level @ $96.
NFA, just my own opinion based on personal research.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.