ARK ETF Forecast

Buy or Hold candidate since Nov 05, 2024 Gain 28.25%

The ARK ETF price gained 1.98% on the last trading day (Wednesday, 11th Dec 2024), rising from $60.59 to $61.79. During the last trading day the ETF fluctuated 1.86% from a day low at $60.85 to a day high of $61.98. The price has risen in 6 of the last 10 days and is up by 9.97% over the past 2 weeks. Volume fell on the last day by -2 million shares and in total, 6 million shares were bought and sold for approximately $370.42 million. 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 in the upper part of a wide and strong rising 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 $63.69 will firstly indicate a stronger rate of rising. Given the current short-term trend, the ETF is expected to rise 34.36% during the next 3 months and, with a 90% probability hold a price between $71.38 and $85.57 at the end of this 3-month period.

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ARKK Signals & Forecast

There are mixed signals in the ETF today. A sell signal was issued from a pivot top point on Friday, December 06, 2024, and so far it has fallen -1.78%. 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). The ARK ETF holds buy signals from both short and long-term Moving Averages giving a positive forecast for the ETF. 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 $60.97 and $54.34. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The ETF should be watched closely. The ETF had a Golden Star Signal on Wednesday, September 11, 2024 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the ETF in question.

Support, Risk & Stop-loss for ARK ETF

On the downside, the ETF finds support just below today's level from accumulated volume at $57.87 and $56.82. There is a natural risk involved when a ETF is testing a support level, since if this is broken, the ETF then may fall to the next support level. In this case, ARK finds support just below today's level at $57.87. If this is broken, then the next support from accumulated volume will be at $56.82 and $52.15.

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 $1.13 between high and low, or 1.86%. For the last week, the ETF has had daily average volatility of 2.90%.

Our recommended stop-loss: $59.51 (-3.69%) (This ETF has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 3 days ago.)

Trading Expectations (ARKK) For The Upcoming Trading Day Of Thursday 12th

For the upcoming trading day on Thursday, 12th we expect ARK INNOVATION ETF to open at $61.54, and during the day (based on 14 day Average True Range), to move between $60.08 and $63.50, which gives a possible trading interval of +/-$1.71 (+/-2.76%) up or down from last closing price. If ARK INNOVATION ETF takes out the full calculated possible swing range there will be an estimated 5.53% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $62.91 (1.81%) than the support at $57.87 (6.34%), 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 INNOVATION ETF ETF A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for ARK ETF to perform well in the short-term.

Current score: 2.535 Buy Candidate Unchanged

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Predicted Fair Opening Price

Predicted fair opening price on December 12, 2024 - $61.54 ( 0.410%).