This is a counter trend trade with the backdrop of high inflation, global supply shortage and more unemployment pressure. Yet ARKK innovation ETF is looking attractive at this level. Cash is still king during this uncertain period so only use a small size to take advantage of deep discounts. I will exit the trade if price drops below $39 but if it doesn't, then ARKK could test $60 level soon.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.