ABC BullishARKK may be setting up for round 2 (o: This one corrected between the 0.5 and 0.618 fib levels.
Possible resistance at prior gap down.
No bearish rising wedges noted in yearly chart. OBV and NV are both high.
Bearish divergence noted on leg up. Now price has come down and appears to be recovering. Many use the valleys of the RSI and price to look for bullish divergence and the peaks to look for bearish divergence.
ABC bullish pattern is a move down like the ABC corrective pattern, but in this form it can not have C under A, whereas in the corrective ABC pattern, C is below A. It gets complicated and some folks would rather use elliot waves, and to each his (her) own (o: We are all different. I have found this pattern to be rewarding because C is often as low as she goes and a great place to put a stop. Sometimes C does go lower and you end up with a double bottom. Some patterns just fail and that is life )o: All we can do is what we are capable of doing. Not everyone prefers pattern trading. Again, we are all different and that is what makes the world go around.
Not a recommendation.
Whatever cranks your tractor is the style of trading that may work the best for you (o: