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Technical view: ARK Innovation ETF (ARKK)

Technical view

ARKK is in stage #4 but morphing into stage 1. The stock started moving down sharply. As the tech stocks recover, ARKK will follow. If you like risky investments, this could be a good ride. I won’t touch it with a long pole, though. The stock may be propped by risk-loving retail investors, but I think, ultimately, the stock will fail. The fund is filled with junk stocks that makes investing in ARKK very risky. The recent purchase of Palantir (PLTR) will not make any difference. It may have propped the stock and the fund briefly, but it won’t last long term. The fair value of ARKK is $38.43 so, it trades at fair value and it may stay here for a long term period.

Technical view weekly

The stock is now MODERATE SELL

This post was published in our newsletter to our subscribers on Saturday, May 20th, 2023. If you want to learn more about our stock technical analysis subscribe to our weekly newsletter.

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