ARKG SELL/SHORT ALREADY ACTIVE to 37.00-42.85 (Next buy entry)
TICKER CODE: ARKG
Company Name: ARK Genomic Revolution ETF
Industry: Financial | Exchange Traded Fund | USA
Position Proposed: SELL
Technical Analysis
1. Falling Wedge Pattern (Potentially forming)
2. Large Head & Shoulders (Completed)
3. Fibonacci Retracement at 0.786 is CLOSE BUT NOT AT key market structure
4. Fibonacci Expansion Safe Take Profit Level 1 (Grey Zone) Also the length of Flagpole
5. Monthly chart was recently in the overbought range
(will be looking for it to fall back in stable range, hence the fall)
Analytical Assumption
Monthly chart has not done any proper retracement
to any market structure hence, we are looking for a deep pullback.
This deep pullback will hit previous resistance which is now the new support
Sell Exit: 80.0
Buy Entry: NOT READY (37.00-42.85) - Should be ready around August - End 2021
1st Partial Take Profit: 135.00 (July-End 2022)
2nd Partial Take Profit: 193.00 (2023)
All take profit may differ accordingly depending on available data (NOT ENOUGH AT THE MOMENT)
Stop Loss: 34.5
This chart will be monitored and updated on a closer date or when more data is presented.
Company Name: ARK Genomic Revolution ETF
Industry: Financial | Exchange Traded Fund | USA
Position Proposed: SELL
Technical Analysis
1. Falling Wedge Pattern (Potentially forming)
2. Large Head & Shoulders (Completed)
3. Fibonacci Retracement at 0.786 is CLOSE BUT NOT AT key market structure
4. Fibonacci Expansion Safe Take Profit Level 1 (Grey Zone) Also the length of Flagpole
5. Monthly chart was recently in the overbought range
(will be looking for it to fall back in stable range, hence the fall)
Analytical Assumption
Monthly chart has not done any proper retracement
to any market structure hence, we are looking for a deep pullback.
This deep pullback will hit previous resistance which is now the new support
Sell Exit: 80.0
Buy Entry: NOT READY (37.00-42.85) - Should be ready around August - End 2021
1st Partial Take Profit: 135.00 (July-End 2022)
2nd Partial Take Profit: 193.00 (2023)
All take profit may differ accordingly depending on available data (NOT ENOUGH AT THE MOMENT)
Stop Loss: 34.5
This chart will be monitored and updated on a closer date or when more data is presented.
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