ARK Fintech Innovation ETF – ARKF (1D) Elliott Wave Technical Analysis

Daily Chart

Function: Major Trend

Mode: Motive

Structure: Impulse Wave

Position: Wave iii

Direction: Uptrend

Details:

The current rally is identified as part of the third wave (wave iii), typically associated with the strongest momentum.

This wave is expected to bring high trading volume and strong bullish movement.

New highs are likely during this phase.

Wave ii should be fully retraced.

Invalidation Level: $47.22

ARK Fintech Innovation ETF – ARKF (4H) Elliott Wave Technical Analysis

4-Hourly Chart

Function: Major Trend

Mode: Motive

Structure: Impulse

Position: Wave [1] of iii

Direction: Uptrend

Details:

Wave ii concluded at $32.75 in a zigzag structure.

A minor bullish confirmation came when price breached subwave 4 of [C] within wave ii.

A brief consolidation may occur near $37.82 before prices move higher.

The recent high of $44.73 is likely to be surpassed during this rally.

The key level to monitor is $35.00.

Invalidation Level: $32.75

Conclusion:

ARKF is advancing in wave iii, typically the strongest and most dynamic phase in an impulse wave.

Wave 3s often reflect significant upside potential and are known for high volume and rapid price increases.

This presents a favorable scenario for bullish traders, especially ETF investors.

Staying within Elliott Wave guidelines and monitoring the invalidation levels is essential for managing risk and protecting positions.

Technical Analyst: Siinom

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