Account
New to ADSS? Open an
account now to get started.
Already have an account?
Add funds to your ADSS account
Account
New to ADSS? Open an
account now to get started.
Add funds to your ADSS account
Asset Watch
Tuesday, July 12, 2022
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?
ADSS
8th floor, CI Tower
Corniche Road
PO Box 93894
Abu Dhabi
United Arab Emirates
Trading Services
ts@adss.com
+971 2 657 2414
Investing in CFDs involves a high degree of risk that you will lose your money due to the use of leverage, particularly in fast moving markets, where a relatively small movement in the price can lead to a proportionately larger movement in the value of your investment. This can result in loses that exceed the funds in your account. You should consider whether you understand how CFDs work and you should seek independent advice if necessary.
ADS Securities LLC (“ADSS”) is authorised and regulated by the Securities and Commodities Authority (“SCA”) in the United Arab Emirates as a trading broker for Over the Counter (“OTC”) Derivatives contracts and foreign exchange spot markets. ADSS is a limited liability company incorporated under United Arab Emirates law. The company is registered with the Department of Economic Development of Abu Dhabi (No. 1190047) and has its principal place of business at 8th Floor, CI Tower, Corniche Road, P.O. Box 93894, Abu Dhabi, United Arab Emirates.
The information presented is not directed at residents of any particular country outside the United Arab Emirates and is not intended for distribution to, or use by, any person in any country where the distribution or use is contrary to local law or regulation.
ADSS is an execution only service provider and does not provide advice. ADSS may publish general market commentary from time to time. Where it does, the material published does not constitute advice, or a solicitation, or a recommendation to a transaction in any financial instrument. ADSS accepts no responsibility for any use of the content presented and any consequences of that use. No representation or warranty is given as to the completeness of this information. Anyone acting on the information provided does so at their own risk.
