ARK INNOVATION ETF (ARKK) Stock Technical Analysis
NYSEARCA:ARKK - NYSE Arca - US00214Q1040 - ETF - Currency: USD
We assign a technical rating of 8 out of 10 to ARKK. In the past year, ARKK was one of the better performing stocks in the market. The medium term picture became unclear, although we see some improvement happening in recent action.
The long term trend is still neutral, but the short term trend is positive, so the stock is getting more and more appreciated by traders and investors.
ARKK is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
ARKK has an average volume of 12018800 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
When comparing the yearly performance of all stocks, we notice that ARKK is one of the better performing stocks in the market, outperforming 81% of all stocks. However, ARKK's most recent performance is quite weak.
ARKK is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so ARKK is lagging the market slightly.
Besides having an excellent technical rating, ARKK also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 57.68. Right above this resistance zone may be a good entry point.
More info and screens
41.17
58.96
3 important support areas can be observed.
- A support zone ranging from 53.78 to 54.44. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Support @48.77 from a horizontal line in the daily time frame.
- A support zone ranging from 41.59 to 42.67. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 57.68 to 58.38. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | NEUTRAL | NEUTRAL | The long term trend for ARKK is neutral. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for ARKK is up. |
| ChartMill Relative Strength | 81.78 | POSITIVE | ARKK has a high relative strength, it outperformed 81.78% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of ARKK is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of ARKK is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of ARKK is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 59.21 | NEUTRAL | The RSI value for ARKK is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.17 | POSITIVE | The MACD value suggests ARKK has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 74.91 | NEUTRAL | The Stochastics value for ARKK is a neutral value. |
| Average True Range in percent/ATR (20) | 3.3 | MEDIUM VOLATILITY | The ATR as a percentage value for ARKK suggests some volalility. |
| Average Directional Index/ADX (14) | 22.29 | NEUTRAL | The ADX value for ARKK suggests a possible start of a new trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 58.39 | 53.77 | 4.62 (7.91%) | 12.64% |
| An entry @58.39. This is a Buy Stop order right above the resistance zone. | An exit @53.77. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 4.62 points, which is 7.91%. | When investing 12.64% of your capital in this trade, your total portfolio risk will be 1.00%. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
56.07
-0.31 (-0.55%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg-0.55%
1 Week-3.94%
2 Weeks9.19%
1 Month9.94%
3 Month-6.86%
6 Month-0.25%
12 Month26.34%
2 Year38.48%
3 Year27.17%
5 Year-10.74%
10 Year159.58%
15 YearN/A
Volatility
ATR(14)1.93
ATR(20)%3.3%
ATR Inc-26.6%
Range Today1.3
ADR(20)1.48
ADR(20)%2.63%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS81.78
Mansfield0.84
10 Day High58.56
10 Day Low53.29
20 Day High58.56
20 Day Low48.53
52 Week High68.43
52 Week Low36.85
CS1 End54.44
CR1 Start57.68
Volume & EV
DER(3)-2.47%
DER(5)-3.64%
Volume7.59M
Volume Incr-11.31%
Vol(5)8.96M
Vol(50)12.02M