ARKK seems to be in a massive falling wedge on the daily.
If it can clear 109.60 (21EMA) resistance, I see this running to 116.25 which just so happens to be the 50EMA, 38.2 fib, and the old trend-line support from July 2020.
Clearing this resistance area will break the downtrend and could possibly send this to the 128-130 zone by next month.
If ~116.25 can not be cleared, I will look to short ARKK down to $90
I previously made a post before on why I was overall short-bias on ARKK and Cathie Woods, if playing monthly long calls I strongly suggest you do not size too big!
Good luck, Happy trading!
If it can clear 109.60 (21EMA) resistance, I see this running to 116.25 which just so happens to be the 50EMA, 38.2 fib, and the old trend-line support from July 2020.
Clearing this resistance area will break the downtrend and could possibly send this to the 128-130 zone by next month.
If ~116.25 can not be cleared, I will look to short ARKK down to $90
I previously made a post before on why I was overall short-bias on ARKK and Cathie Woods, if playing monthly long calls I strongly suggest you do not size too big!
Good luck, Happy trading!
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