But following more than a year of erratic behavior from Cathie Wood's flagship vehicle, the ARK Innovation Fund appears to be forming a basing pattern that could herald a breakout ahead.
Bullish pattern developing However, the ETF deserves our attention from a technical perspective since it could be getting closer to breaking out of a two-year basing pattern.
And as the chart shows, this has prompted a second bullish formation to be constructed – a big cup and handle pattern.
If a breakout through the two-year base does occur, the odds suggest that it will get traders' attention once again.
If nothing else, it's important to understand what you're investing in, especially a very active ETF like ARKK.
Persons:
ARKK, That's, Price, Tesla, It's
Organizations:
Innovation, Google, VanEck Semiconductor, Coinbase
Locations:
ARKK