Is ARKK Seeking A bottom Near Fib Amplitude Support?
Looking at this chart, one could argue the past 12+ months have erased all of the excesses of the post-COVID speculative rally.
One could argue that ARKK is nearing historical support and may be attempting to establish some type of base/bottom levels.
I would suggest that ARKK may attempt a "wash-out" low price over the next few weeks - where price attempts to FLUSH OUT early longs. But it seems to me ARKK is nearing strong support from 2018-19 levels and may attempt a recovery rally throughout the end of 2022 (possibly).
Time will tell.
May be worth looking into some CALL options on ARKK at these levels?
One could argue that ARKK is nearing historical support and may be attempting to establish some type of base/bottom levels.
I would suggest that ARKK may attempt a "wash-out" low price over the next few weeks - where price attempts to FLUSH OUT early longs. But it seems to me ARKK is nearing strong support from 2018-19 levels and may attempt a recovery rally throughout the end of 2022 (possibly).
Time will tell.
May be worth looking into some CALL options on ARKK at these levels?
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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.