(Click on image to enlarge)
ARKK Innovation ETF weekly chart courtesy of StockCharts.Com
The blue dotted lines in my chart are technical support lines.
ARKK Milestone
Another crooked Wall Street fraud exposed. The bear market will strip them all by the time it's done. Including Jay Powell. But most importantly, the shameless architect of the greatest moral hazard bubble in history, Ben Bernanke.
— Liquidity Trader (@Lee_Adler) May 9, 2022
I do not think Cathie Wood is a fraud. But yes, the bear market will sink a lot of guru's before its done.
Doubling Down on Dumb
$ARKK doubling down😬 pic.twitter.com/Y0kcmFjNRs
— Sam Lawhon (@lawhon_sam) May 6, 2022
ARKK Innovation Holdings
(Click on image to enlarge)
Question of the Day
How many of those companies will not survive?
Averaging In
If you started averaging in at 40 or even 30, adding every month you have not exactly done very well.
Where's Monthly Support?
(Click on image to enlarge)
ARKK Innovation ETF weekly chart courtesy of StockCharts.Com
ARKK is close to support at 37 right now.
Beneath that there is technical support at 32 then 17 or so. If that fails, there's always a complete round trip to 13.69.
ARKK Top 10 Holdings
ARKK Holdings Courtesy of MarketWatch
The fate of ARK rests with the the stocks
Ark Open Source Model Predicts Tesla Shares Will Hit $4,600 by 2026
Not to worry, Cathie Wood says Ark Open Source Model Predicts Tesla Shares Will Hit $4,600 by 2026
Looking even further ahead to 2030, Wood predicts a share price of about $22,500 equating to a market cap of roughly $22.5 trillion.
US Real GDP in 2021 was $19.8 Trillion.
ARK is predicting the valuation of Tesla will exceed the entire US real GDP by the early 2030s.
Yes, this is more than ridiculous. It also says something about guru price models.
Comments
Log in or sign up to join the conversation.