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Trends & Analysis
News

Week Ahead Preview: 10th of February

News

Amazon’s shares slide despite Q4 beat

News

PepsiCo’s shares climb despite Q4 sales miss

News

GBP/JPY price may drop to a Multi-month low

News

Alphabet’s shares plunge despite Q4 earnings beat

News

Gold Price Outlook – Will Gold hit a new all-time high?

Trends & Analysis
News

Week Ahead Preview: 10th of February

News

Amazon’s shares slide despite Q4 beat

News

PepsiCo’s shares climb despite Q4 sales miss

News

GBP/JPY price may drop to a Multi-month low

News

Alphabet’s shares plunge despite Q4 earnings beat

News

Gold Price Outlook – Will Gold hit a new all-time high?

Asset Watch

Will the ARK Innovation ETF stay afloat this week?

 

Tuesday, July 12, 2022

With the ARK Innovation ETF going from riding the pandemic wave higher in 2020/2021 to drowning in 2022, Cathie Wood’s flagship investment fund has suffered recently.

 

With higher interest rates poised to slow the U.S. economy, investors have rotated from value to growth stocks in recent weeks. So, could shifting sentiment help buoy the ARK Innovation ETF?
ARK Innovation Stock Chart Trading View

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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