$ARKK has flashed a new “Go” bar on the daily chart.
After a long drawn out correction comprised of “NoGo” bars and GoNoGo Oscillator mostly below zero and finding resistance at that level, there are signs of life for $ARKK. First, on May 10th, GoNoGo Oscillator broke above the zero line as GoNoGo Trend painted a few amber “Go Fish” bars of uncertainty. The oscillator quickly retested zero and found support. This resurgent momentum allowed GoNoGo Trend to paint an aqua bar and as price climbs above downward sloping resistance the current bar is a strong “Go”. We will watch to see if this “Go” trend can persist with an initial target around $45 from the prior high.
