Chart of the Day: Does ARK Innovation Have Downside Risk?

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The ARK Innovation ETF has chopped in a range for the last two years, and some traders may expect a push back to longer-term lows.

The first pattern on today’s chart is the rounded top in February and March. It was slightly below the peak of …

For more, please click here to view the related idea and chart analysis on TradingView.

ARK Innovation ETF (ARKK), daily chart, with selected patterns and indicators, courtesy of TradingView.
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David Russell is Global Head of Market Strategy at TradeStation. Drawing on nearly two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them appraised of sector leadership, relative strength and the big stories – especially those overlooked by other commentators. He’s also a big fan of generating leverage with options to limit capital at risk.