The ARKK is going to sink...and only bears will be saved!
Considering JPM recently released their views of Cathies outlook, I did a deeper analysis for some bearish PTs. Seems like 88 is in the cards!
I find it's best to invert the chart. I used fibs, then fib extensions, and some MA's, plus an anchored VWAP. I think we're going to get this quick bounce to 122, then we're going to breakdown. Stop is at the 0.61 fib of this most recent bounce (which puts us around 128 as a stop).
However, this could be a bear flag (and since it's flipped....bullish!), so we'd want to get out at around 127-130.
Good Luck!
I find it's best to invert the chart. I used fibs, then fib extensions, and some MA's, plus an anchored VWAP. I think we're going to get this quick bounce to 122, then we're going to breakdown. Stop is at the 0.61 fib of this most recent bounce (which puts us around 128 as a stop).
However, this could be a bear flag (and since it's flipped....bullish!), so we'd want to get out at around 127-130.
Good Luck!