The ARK Innovation ETF (
ARKK
) is currently displaying an inverse head and shoulders pattern on its chart, a formation typically indicative of a potential bullish reversal. However, for this pattern to remain valid, it's crucial that
ARKK
does not close below the key level of $34.72 on a weekly basis. A weekly close below this price point would invalidate the pattern, suggesting a potential shift or continuation of the bearish trend.
ARKK
) is currently displaying an inverse head and shoulders pattern on its chart, a formation typically indicative of a potential bullish reversal. However, for this pattern to remain valid, it's crucial that
ARKK
does not close below the key level of $34.72 on a weekly basis. A weekly close below this price point would invalidate the pattern, suggesting a potential shift or continuation of the bearish trend.