ARK 21Shares Digital Asset and ETF Forecast

ARK 21Shares Digital Asset and ETF downgraded from Hold/Accumulate to Sell Candidate after Tuesday trading session.
(Updated on Jun 25, 2024)

ARKD Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The ARK 21Shares Digital Asset and ETF holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $42.84 and $43.35. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". 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 $40.66 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the ETF tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the ETF During the last day, the ETF moved $0 between high and low, or 0%. For the last week the ETF has had daily average volatility of 0.500%

ARK 21Shares Digital Asset and is oversold on RSI14 (20). Some ETFS may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (ARKD) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect ARK 21Shares Digital Asset and Blockchain Strategy ETF to open at $40.96, and during the day (based on 14 day Average True Range), to move between $40.13 and $41.79, which gives a possible trading interval of +/-$0.83 (+/-2.02%) 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 4.03% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $40.66 (0.73%) than the resistance at $41.48 (1.27%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is ARK 21Shares Digital Asset and Blockchain Strategy ETF ETF A Buy?

ARK 21Shares Digital Asset and holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this ETF. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.547 Sell Candidate Downgraded

Predicted Opening Price for ARK 21Shares Digital Asset and Blockchain Strategy ETF of Wednesday, June 26, 2024

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