There is an inverse head and shoulder getting formed on the ARKK weekly chart. The pattern materialized after a weekly close above $54.5.
The target after the breakout comes to $98 levels.
The strength of the move can be confirmed by:
1. Rising MACD and RSI Moving Average and
2. ADX is above 20
To maintain confidence in the setup, i would like to see the price within the upsloping channel.
The target after the breakout comes to $98 levels.
The strength of the move can be confirmed by:
1. Rising MACD and RSI Moving Average and
2. ADX is above 20
To maintain confidence in the setup, i would like to see the price within the upsloping channel.
Trade active
Position taken at 48.9 | Stop Loss 46.9
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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.
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.