Cathie Wood-Led ARKK Flies Higher Within A Confirmed Bull Cycle: This ETF Offers A 200% Return
Portfolio Pulse from Melanie Schaffer
The Ark Innovation ETF (ARKK) surged almost 5% higher on Tuesday, moving above the 200-day simple moving average (SMA), indicating a bull cycle. The AXS 2x Innovation ETF (TARK) offers leveraged long exposure to ARKK, aiming to return 200% of ARKK's daily performance. ARKK's largest holdings include Tesla (TSLA), Roku (ROKU), and Zoom Video Communications. ARKK is currently in an uptrend, with resistance at $43.83 and $45.43.
August 29, 2023 | 4:19 pm
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POSITIVE IMPACT
ARKK surged almost 5% higher, indicating a bull cycle. It's currently in an uptrend, with resistance at $43.83 and $45.43.
The surge in ARKK's price and its movement above the 200-day SMA indicates a bull cycle. This is likely to attract more investors, pushing the price higher in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
ROKU is one of the largest holdings of ARKK.
As one of the largest holdings of ARKK, the surge in ARKK's price could have a positive impact on ROKU's stock price in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
TARK offers leveraged long exposure to ARKK, aiming to return 200% of ARKK's daily performance.
As TARK offers leveraged exposure to ARKK, the surge in ARKK's price is likely to have a positive impact on TARK's performance in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
TSLA is one of the largest holdings of ARKK.
As one of the largest holdings of ARKK, the surge in ARKK's price could have a positive impact on TSLA's stock price in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60