ARK ETF Forecast
Stronger technical forecast for ARK ETF price after Thursday trading.
(Updated on Mar 28, 2024)
The ARK ETF price fell by -0.0599% on the last day (Thursday, 28th Mar 2024) from $50.11 to $50.08. During the last trading day the ETF fluctuated 1.28% from a day low at $49.97 to a day high of $50.61. The price has been going up and down for this period, and there has been a 2.75% gain for the last 2 weeks. 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 -3 million shares and in total, 8 million shares were bought and sold for approximately $408.78 million.
The ETF lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the ETF is expected to rise 5.14% during the next 3 months and, with a 90% probability hold a price between $49.17 and $55.59 at the end of this 3-month period.
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ARKK Signals & Forecast
The ARK 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 $50.09. On a fall, the ETF will find some support from the long-term average at approximately $49.83. 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 Tuesday, February 27, 2024, and so far it has fallen -2.83%. 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 ETF
ARK finds support from accumulated volume at $48.90 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 with good liquidity the risk is considered very low in this stock. During the last day, the ETF moved $0.640 between high and low, or 1.28%. For the last week the ETF has had daily average volatility of 2.09%.
Our recommended stop-loss: $47.97 (-4.21%) (This ETF has low daily movements and this gives low risk. There is a sell signal from a pivot top found 22 days ago.)
Trading Expectations (ARKK) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect ARK INNOVATION ETF to open at $50.22, and during the day (based on 14 day Average True Range), to move between $48.68 and $51.48, which gives a possible trading interval of +/-$1.40 (+/-2.80%) up or down from last closing price. If ARK INNOVATION ETF takes out the full calculated possible swing range there will be an estimated 5.60% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $50.25 (0.34%) than the support at $48.90 (2.36%), 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. We have upgraded our analysis conclusion for this ETF since the last evaluation from a Sell to a Buy candidate.
Current score: 2.179 Buy Candidate Upgraded
Predicted Opening Price for ARK INNOVATION ETF of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$50.22 ( 0.280%) | $50.08 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ARKK
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 50.86 | 1.56 % | |
R2 | 50.62 | 1.07 % | ||
R1 | 50.46 | 0.768 % | ||
Current price: | 50.08 | |||
Support | S1 | 49.98 | -0.209 % | |
S2 | 49.82 | -0.510 % | ||
S3 | 49.58 | -1.00 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 52.37 | 4.57 % | |
R2 | 50.50 | 0.84 % | ||
R1 | 50.25 | 0.339 % | ||
Current price | 50.08 | |||
Support | S1 | 48.90 | -2.36% | |
S2 | 46.28 | -7.59% | ||
S3 | 45.92 | -8.31% |
ARKK Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Sep 08, 2023 | Sep 08, 2023 | Sep 08, 2023 | $0.364 | 0.83% |
2 | Dec 28, 2021 | Dec 29, 2021 | Dec 31, 2021 | $0.783 | 0.83% |
3 | Dec 28, 2020 | Dec 29, 2020 | Dec 31, 2020 | $2.04 | 1.64% |
4 | Dec 26, 2019 | Dec 27, 2019 | Dec 31, 2019 | $0.191 | 0.382% |
5 | Dec 27, 2018 | Dec 27, 2018 | Dec 31, 2018 | $1.17 | 3.14% |
FAQ
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