Technical Watch: Pivots in Focus for ARK Innovation ETF (:ARKK): 1 Month Fibonacci Pivot is 43.736668

On a typical market day there is no shortage of stock news. Investors are often tasked with trying to decipher which news is worth paying attention to and which isn’t. Not only is there plenty of swirling news, there are usually plenty of opinions that follow. Closely following market sentiment can be useful for some, but it may impede others when decisions need to be made. When it comes to dedicated stock research, taking shortcuts may result in disappointing portfolio performance. Investors have to be careful not to be tempted by the hot stocks of the day. Of course, maybe some of those stocks would fit well in the portfolio, but doing individual stock study can help confirm the addition. 

Following recent trading activity, we note that ARK Innovation ETF (:ARKK) has seen a move of 0.24223739% since the open. The prior close was 45.52 and the one month high price is currently 46.22. 

Traders using technical analysis may be employing moving average indicators to assist with gauging a certain market move or to indicate its strength. Many traders will rely on the EMA or Exponential Moving Average to accomplish this. Checking on some recent levels for ARK Innovation ETF (:ARKK), we can see that the 10 day EMA is 44.203926, the 20 day is 43.648766, and the 30 day is 43.462082. Pulling back a bit, we note that the 100 day EMA is 43.85616, the 50 day is 43.414158, and the 200 day EMA is 44.269363.

After a recent check, we see that the Bull Bear Power reading is 2.7022476. Moving to some volatility readings, we see that the current value is 3.4413855. Looking out for the week, volatility is 2.4098227. For the previous month, volatility is at 2.785046. Investors often track volatility across sectors to compare with the overall volatility in the market.

A good way for investors to understand stock price movements is to look at how it has performed at various intervals in the past. Tracking shares of ARK Innovation ETF (:ARKK), we see that the most recent close price was 45.52
Year-to-date: 22.788565
Prior week: 6.0069847
Prior month: 1.8112701
Last 6 months:0.97582614
Last 3 months: -7.402888

Traders use pivot point analysis to help determine key levels where a stock price may react. Tracking these turn around levels may help the trader while attempting stock analysis. Looking at some current one month pivots, we note that the Fibonacci pivot is 43.736668 while the Fibonacci support 1 pivot is 42.896267, and the Fibonacci support 2 is 42.377068. Checking on the one month Woodie pivot, we note the level at 44.69. The Woodie support 1 pivot is 44.9, and the Woodie resistance 1 pivot is 47.1.

Investors might be looking around every corner when analyzing shares of ARK Innovation ETF (:ARKK). Many investors will closely track a stock when it nears a major historical high or low point. Let’s take a quick peek at some major historical highs and lows for the stock:

All time high: 49.87
All time low: 14.6705
52 week high: 49.87
52 week low: 36.06
6 month high: 49.87
6 month low: 39.39
3 month high: 49.01
3 month low: 39.39
One month high: 46.22
One month low: 39.89

Many investors get into the stock market with unrealistic expectations. For whatever reason, they may have the mindset that snatching profits is easy. Thinking that profits can be doubled or tripled right away may lead the investor down the road of no return. Although the lucky few might hit some big winners right off the bat, these chances are quite low. Stocks tend to be volatile in the short-term. Unless investors have a game plan ready to capitalize on short-term movements, they may want to take a wider, longer-term approach. Trying to figure out which way the market will turn from one day to the next can be a highly frustrating procedure. Having the patience to thoroughly examine every trade can immensely boost the investor’s chances of surviving and thriving into the future. 

Shifting the technical focus to Keltner Channels, we see that the 20 day upper envelope is 44.473904. The 20 day lower envelope is currently 42.823624. Traders may be watching for a breakthrough of the higher or lower Keltner bands.