➖ 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 can expect lower for this ETF, easily.
Namaste.
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 can expect lower for this ETF, easily.
Namaste.
Note
Here we have a rejection at resistance; in this case EMA100: This rejection is a bearish confirmation.
We can expect to see this ETF move lower as it has been happening already for weeks.
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