Is $106 the Bottom for ARKK?
1. Strong downward bear trend across the board due to rising treasury yields.
2. ARKK is tech heavy.
3. ARKK has weeklies with high IV.
4. Treasury Bond Auction tomorrow at 1PM EST.
5. Strong rebound off $106, $106 being the bottom of a long bullish trendline since July.
6. $122-$124 may be short term bearish resistance.
7. All the short term indicators say that it's overbought, meaning it can sell off more.
8. The daily RSI and Stochastics are extremely oversold, pointing to buying the dip.
9. Support levels have been breaking everywhere, last support level for ARKK was $125.
2. ARKK is tech heavy.
3. ARKK has weeklies with high IV.
4. Treasury Bond Auction tomorrow at 1PM EST.
5. Strong rebound off $106, $106 being the bottom of a long bullish trendline since July.
6. $122-$124 may be short term bearish resistance.
7. All the short term indicators say that it's overbought, meaning it can sell off more.
8. The daily RSI and Stochastics are extremely oversold, pointing to buying the dip.
9. Support levels have been breaking everywhere, last support level for ARKK was $125.
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