ARKK
Like many people, I've lost $$$ falling in love with Cathie
Cathie has literally destroyed my portfolio.
Does shares bought at $150-$130 are now worth a quarter of that.
What is going on with ARKK and are we going to see more lows?
News:
All ARKK ETF’s continue to underperform relative to the S&P 500 is growing and Teladoc Health, one of ARK Innovation ETF’s most overweight positions, just collapsed in value last week.
Unlike Bill Ackman who dumped his funds $1.1 billion investment in NFLX and taking a loss of around $400 million, Madam Cathie is adding more to her position.
Charts:
EMA ( Exponential Moving Average ): Price action is below the 200 EMA (discount buying opportunity) Price is also below 20/50/100/200 EMA and are all pointing downwards! Looks like we've been in a death cross since November 2021 and we're not coming out of it anytime soon.
TTM Squeeze: Squeezing to the bottom but it looks like it wants to change direction at the current support line (super trendline; at the bottom of the pattern).
Fib Levels: with the price below the 1 fib and headed towards the 1.618, if the current support support line doesn't hold, we could see $ARKK in the $30s...(bye bye to my $44K leap call option expiring in December).
Candle Stick: Summary of last 5 candles equate to a bearish movement; you might as well just call them a 3 black crow.
RSI: In a great position which also supports the TTM Squeeze movement... No matter what happens on May 3rd or 4th, I should just buy some more at this point.
Pattern: Falling Wedge and still falling; Need a savior.
History: ARKK seems to have lost it's hedge and it's now crashing and burning; a breakthrough will be nice.
STAKK