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CFDs and spread bets are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs and spread bets with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Asset Watch
Tuesday, July 12, 2022, 10:20am GMT
Source: TradingView
Looking back, breakouts above the 10-week moving average coincided with rallies that lasted roughly one to four months. The 10-week MA also acted as support numerous times during the ARK Innovation ETF’s vertical ascent from April 2020 to February 2021.
But after back-and-forth trading from May through November 2021 gave way to a waterfall decline in 2022, the ARK Innovation ETF has only managed three closes above its 10-week MA. The first occurred in late March and was followed by another sharp drawdown. The second occurred two weeks ago and was followed by a 10% drop the next week.
However, with the 10-week MA at $43.30 and the ARK Innovation ETF ending last week at $46.86, a third rendition has materialised. While the weekly closes in late March and June were only 2.4% and 3.1% above the 10-week MA, this week’s close was 8.22% above the 10-week MA.
As a result, the ARK Innovation ETF is showing its first signs of life in 2022: but will the good times last?
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CFDs and Spreadbets are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of Retail investor accounts lose money when trading CFDs and Spread Bets with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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