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Ark ETF About To Fall Another 30%?

By Chris KimbleStock MarketsMay 12, 2021 10:16AM ET
www.investing.com/analysis/ark-etf-about-to-fall-another-30-200579585
Ark ETF About To Fall Another 30%?
By Chris Kimble   |  May 12, 2021 10:16AM ET
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ARKK Chart.
ARKK Chart.

Red hot ARK ETF (NYSE:ARKK) has cooled off of late, losing more than 30% of its value. Is it about to fall another 30%?

If this pattern is correct, it is possible.

ARKK looks to have formed a bearish descending triangle over the past 14 weeks. Currently, it is testing the bottom of this bearish pattern.

If support breaks at (1), the “measured move” suggests ARKK could fall another 30%.

This ETF has been a proxy of the strength or lack of in the tech sector.

How ARKK handles this pattern, should send an important message about tech stocks over the next few weeks.

 

Ark ETF About To Fall Another 30%?
 

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Ark ETF About To Fall Another 30%?

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Comments (4)
Dan Cali
Dan Cali May 12, 2021 9:46PM ET
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GOTTA ❤️ this Monday Morning Quarteback, he is wring as all R!
Gene Kret
Gene Kret May 12, 2021 7:28PM ET
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Tech will bounce back when the Summer gets here. Too many couped up people with money in their pockets. Tesla will lead the way with self driving break thru and construction in TX and India to keep up with demand. As the cities get the fed dollars the EV grid will explode giving charging access to inner cities. The wherls are in motion. This will be Bidens huge legacy.
Atlantic Coast Money
Atlantic Coast Money May 12, 2021 6:03PM ET
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Love the valid illustration. Biggest joke fund in a long time. Hopefully a ripple effect on the markets. Way overdue for a correction.
James William
James William May 12, 2021 2:47PM ET
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Hello Chris
new learn
new learn May 12, 2021 2:47PM ET
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Great analysis
 
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