ARK 21Shares Digital Asset and ETF Forecast
Green day on Friday for ARK 21Shares Digital Asset and
(Updated on May 24, 2024)
The ARK 21Shares Digital Asset and ETF price gained 2.46% on the last trading day (Friday, 24th May 2024), rising from $43.47 to $44.54. During the last trading day the ETF fluctuated 0.415% from a day low at $44.54 to a day high of $44.72. The price has risen in 7 of the last 10 days and is up by 14.12% over the past 2 weeks. Volume fell on the last day by -19 shares and in total, 795 shares were bought and sold for approximately $35.41 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The ETF lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $44.82 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the ETF is expected to fall -8.89% during the next 3 months and, with a 90% probability hold a price between $33.85 and $40.84 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
ARKD Signals & Forecast
The ARK 21Shares Digital Asset and ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $43.37 and $41.88. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, May 22, 2024, and so far it has fallen -0.551%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for ARK 21Shares Digital Asset and ETF
ARK 21Shares Digital Asset and finds support from accumulated volume at $42.40 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the ETF moved $0.185 between high and low, or 0.415%. For the last week the ETF has had daily average volatility of 1.22%.
Our recommended stop-loss: $43.06 (-3.33%) (This ETF has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 17 days ago.)
Trading Expectations (ARKD) For The Upcoming Trading Day Of Tuesday 28th
For the upcoming trading day on Tuesday, 28th we expect ARK 21Shares Digital Asset and Blockchain Strategy ETF to open at $44.60, and during the day (based on 14 day Average True Range), to move between $43.32 and $45.76, which gives a possible trading interval of +/-$1.22 (+/-2.75%) up or down from last closing price. If ARK 21Shares Digital Asset and Blockchain Strategy ETF takes out the full calculated possible swing range there will be an estimated 5.50% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $45.18 (1.44%) than the support at $42.40 (4.80%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is ARK 21Shares Digital Asset and Blockchain Strategy ETF ETF A Buy?
Several short-term signals are positive, despite the ETF being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for ETF to perform well in the short-term.
Current score: 1.721 Buy Candidate Unchanged
Predicted Opening Price for ARK 21Shares Digital Asset and Blockchain Strategy ETF of Tuesday, May 28, 2024
| Fair opening price May 28, 2024 | Current price |
|---|---|
| $44.60 ( 0.138%) | $44.54 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ARKD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 44.79 | 0.553 % | |
| R2 | 44.72 | 0.395 % | ||
| R1 | 44.67 | 0.297 % | ||
| Current price: | 44.54 | |||
| Support | S1 | 44.53 | -0.0202 % | |
| S2 | 44.49 | -0.118 % | ||
| S3 | 44.42 | -0.276 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 47.62 | 6.92 % | |
| R2 | 45.79 | 2.81 % | ||
| R1 | 45.18 | 1.44 % | ||
| Current price | 44.54 | |||
| Support | S1 | 42.40 | -4.80% | |
| S2 | 42.02 | -5.66% | ||
| S3 | 40.94 | -8.08% |
ARKD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 26, 2024 | Mar 26, 2024 | Mar 28, 2024 | $0.0764 | 0.162% |
FAQ
Click here for our free guide on how to buy ARK 21Shares Digital Asset and Blockchain Strategy ETF ETF.
