ARKK has been showing some weakness the last few days. It is barely holding on to the 9/21 EMA cloud and closed today just below the upward trend line. The upper green box would be my first buy zone if AAKK was to sell off. Of note... The fund has risen so far and so fast that a deeper correction could take it back down to 110 which would only be the 236 Fib of the higher time frame move. That would be my second entry for a longer term hold.
Kommentera:
ARKK at my first buy point premarket at 137.
Kommentera:
Over shot my original buy level at the 236, but has now found support at the 382. I chose the 236 as the first buy point b/c I though buyers would step in aggressively like they have in the past. The 50sma was in that zone as well. Good lessen in that it showed even the die hard ARK fans can get spooked. It also exposed the risk of ARK owning large percentages of many stocks in their portfolios. Meaning that when they have out flows and have to sell stock it really affects some names and brings the fund down further. People should be mindful that the ARK funds are actually very risky investments unless you have a long time horizon.