ARKK growth weakness still looming

May 5, 2022

There is a Bearish wolfe wave setup on the 30 min time frame. The projected target is calculated by extending a linear line between pivot 1 and 4 and projecting the line. This is represented as the red perforated line, as shown in the chart. The projected target is $38 which is expected to reach this price target in May 11. At this time, ARKK is neutral and we will consider Bearish position when prices start getting extended.