#ARKK reversing off anchored VWAP & 50dma
Updated
ARKK still stuck in range of this bearish channel since bottoming in May. If you follow the anchored vwap from the recent high of the most recent rally, we are also starting to reject this Vwap. Additionally the 50dma is acting as resistance. Big resistance evident at $46
I think this will work itself lower and possibly retest the big horizontal support zone at $32-$33 in the coming weeks...
I think this will work itself lower and possibly retest the big horizontal support zone at $32-$33 in the coming weeks...
Comment
this ended up working very well - very happy with this tradeComment
Close enough to target - taking this one off
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