ARK Genomic Revolution ETF Forecast
Red day on Thursday for ARK Genomic Revolution ETF after losing 0.127%
(Updated on Apr 18, 2024)
The ARK Genomic Revolution ETF price fell by -0.127% on the last day (Thursday, 18th Apr 2024) from $23.58 to $23.55. It has now fallen 5 days in a row. During the last trading day the ETF fluctuated 2.45% from a day low at $23.31 to a day high of $23.88. The price has fallen in 6 of the last 10 days and is down by -11.7% for this period. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -1 million shares and in total, 3 million shares were bought and sold for approximately $64.39 million.
The ETF lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $23.51 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the ETF is expected to fall -12.81% during the next 3 months and, with a 90% probability hold a price between $20.50 and $26.48 at the end of this 3-month period.
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ARKG Signals & Forecast
There are few to no technical positive signals at the moment. The ARK Genomic Revolution 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 $25.08 and $28.09. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, February 27, 2024, and so far it has fallen -28.55%. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for ARK Genomic Revolution ETF
There is no support from accumulated volume below today's level and given the right condition the ETF may perform very badly in the next couple of days.
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 $0.570 between high and low, or 2.45%. For the last week, the ETF has had daily average volatility of 3.41%.
ARK Genomic Revolution is oversold on RSI14 (18). 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 (ARKG) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect ARK Genomic Revolution ETF to open at $23.58, and during the day (based on 14 day Average True Range), to move between $22.60 and $24.50, which gives a possible trading interval of +/-$0.95 (+/-4.03%) up or down from last closing price. If ARK Genomic Revolution ETF takes out the full calculated possible swing range there will be an estimated 8.06% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $28.44, some $4.89 (20.76%) from the current price of $23.55, our system finds the risk reward not very attractive.
Is ARK Genomic Revolution ETF ETF A Buy?
ARK Genomic Revolution holds several negative signals and is within a very 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.
Current score: -5.722 Strong Sell Candidate Unchanged
Predicted Opening Price for ARK Genomic Revolution ETF of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $23.58 ( 0.127%) | $23.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ARKG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.15 | 2.55 % | |
| R2 | 23.93 | 1.62 % | ||
| R1 | 23.80 | 1.05 % | ||
| Current price: | 23.55 | |||
| Support | S1 | 23.36 | -0.797 % | |
| S2 | 23.23 | -1.37 % | ||
| S3 | 23.01 | -2.29 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 29.16 | 23.82 % | |
| R2 | 29.05 | 23.35 % | ||
| R1 | 28.44 | 20.76 % | ||
| Current price | 23.55 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
ARKG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 29, 2021 | Dec 29, 2021 | Dec 29, 2021 | $0.382 | 0.636% |
| 2 | Dec 29, 2020 | Dec 29, 2020 | Dec 29, 2020 | $0.790 | 0.84% |
| 3 | Dec 26, 2019 | Dec 27, 2019 | Dec 31, 2019 | $1.05 | 3.14% |
| 4 | Dec 26, 2018 | Dec 27, 2018 | Dec 31, 2018 | $0.466 | 1.94% |
| 5 | Dec 26, 2017 | Dec 27, 2017 | Dec 29, 2017 | $0.328 | 1.34% |
FAQ
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