TopOptionAlert
Oct 25, 6:41 AM
$ARKK NOV20 85C · still actionable
Zone:
$81.42 to
$82.56
Invalidation: close under
$80.70
Objectives:
$87, then
$92
The math: up 6.1% to the first objective and 12.2% to the second, against 1.6% risk on the invalidation, better than 7 to 1 to the second.
Dear friend, picture a basket of tomorrow ideas that fell hard for three weeks and finally stopped falling on Friday. ARKK slid from near 95 at the start of October to 80 dollars and 70 cents on Friday, then closed a touch higher at 81 dollars and 99 cents, which is what a tired seller running out of steam looks like. This swing bets that Friday low holds as the floor, with room back toward 87 first and 92 next, while a close under that Friday low tells us the idea is wrong and it is time to step aside.
P.S. Watch
$82.18 first, since Friday high sits just above Friday close and a push over it shows buyers are still in charge.
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