Category Archives: Speed Resistance Lines

Below is an update to our March 5, 2021 downside targets for ARK Innovation based on the work of Edson Gould.

The targets, based on the $156.58 peak, continues to be at:

• $90.73 (conservative target)
• $71.98 (mid-range target)
• $53.23 (extreme target)

The red boxes indicate where the price either breaks above or below the prior support (now a resistance level).  Currently, the ascending $71.98 level is a resistance which, if broken to the upside, will provide positive momentum to retest the ascending $90.73 level.  Naturally, a break below the ascending $53.23 level usually results in that being the next target for the price of the ETF.