On March 30, 2023, I posted (link below) my thoughts on 
ARKK being a barometer for risk-on / risk-off in this market. I still hold the same view. I’ve updated this chart and it has simply continued to consolidate into a narrower range. I expect a resolution to either the upside or a breakdown. All TBD. The constructive things I see are the consolidation in a small price range AND a big decline in volume indicating to me that there is considerable indecision on other traders’ parts. While I tend to lean bullish on this name, it could breakdown as well. I have alerts at both upper and lower trendlines and may trade it accordingly.
Thanks for looking. Ideas, not investing / trading advice.
ARKK being a barometer for risk-on / risk-off in this market. I still hold the same view. I’ve updated this chart and it has simply continued to consolidate into a narrower range. I expect a resolution to either the upside or a breakdown. All TBD. The constructive things I see are the consolidation in a small price range AND a big decline in volume indicating to me that there is considerable indecision on other traders’ parts. While I tend to lean bullish on this name, it could breakdown as well. I have alerts at both upper and lower trendlines and may trade it accordingly.Thanks for looking. Ideas, not investing / trading advice.
Trade active
I'm a little early here but I've opened a long trade on ARKK as it seems to be holding the 8 EMA, 10 SMA and 21 EMA. I'll run a tight stop if it closes under these MA's. If I'm not stopped out, I'll add if / when it breaks out over the upper downtrend line. All TBD.Trade closed manually
Price deteriorated pretty quickly so closed for $0.15 loss per share. I love taking quick small losses (as opposed to large losses). Looks as though I was wrong today. Back on the watchlist.
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I may or may not take any trade published and I am under no obligation to post any action or update to any idea.
I may or may not take any trade published and I am under no obligation to post any action or update to any idea.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Ideas I publish are my own. They are not meant to be investment / trading advice. You are encouraged to do your own due diligence.
I may or may not take any trade published and I am under no obligation to post any action or update to any idea.
I may or may not take any trade published and I am under no obligation to post any action or update to any idea.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.