An inverted cup and handle began to form in November of 2020 on ARK Innovation ETF (ARKK), as shown on the following daily chart.
A bearish moving average Death Cross formed on June 30, 2021 and never reversed after that date.
The bears are still firmly in control of this ETF.
As of last Friday, price is sitting just above the 50-month MA (70.696) and just below the 200-week MA (73.404).
A break and hold below 70.00 could send it down to 40.00, or lower to its IPO price around 20.00.
