ARK 21Shares Digital Asset and ETF Forecast

ARK 21Shares Digital Asset and ETF upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Jun 14, 2024)

ARKD Signals & Forecast

The ARK 21Shares Digital Asset and ETF holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the ETF giving a positive forecast for the stock. On further gains, the ETF will meet resistance from the short-term Moving Average at approximately $45.54. On a fall, the ETF will find some support from the long-term average at approximately $42.91. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Thursday, June 06, 2024, and so far it has fallen -6.56%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). ARK 21Shares Digital Asset and gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". 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 $42.02 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 and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $0.310 between high and low, or 0.707%. For the last week, the ETF has had daily average volatility of 0.92%.

Our recommended stop-loss: $41.88 (-4.52%) (This ETF has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 31 days ago.)

Trading Expectations (ARKD) For The Upcoming Trading Day Of Monday 17th

For the upcoming trading day on Monday, 17th we expect ARK 21Shares Digital Asset and Blockchain Strategy ETF to open at $43.96, and during the day (based on 14 day Average True Range), to move between $42.85 and $44.87, which gives a possible trading interval of +/-$1.01 (+/-2.29%) 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 4.58% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $44.75 (2.03%) than the support at $42.02 (4.20%), 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?

ARK 21Shares Digital Asset and holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.513 Hold/Accumulate Upgraded

Predicted Opening Price for ARK 21Shares Digital Asset and Blockchain Strategy ETF of Monday, June 17, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.