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Ark ETF About To Fall Another 30%?

Published 05/12/2021, 10:16 AM
Updated 07/09/2023, 06:31 AM

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.

 

Latest comments

GOTTA ❤️ this Monday Morning Quarteback, he is wring as all R!
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.
Love the valid illustration. Biggest joke fund in a long time. Hopefully a ripple effect on the markets. Way overdue for a correction.
Hello Chris
Great analysis
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