$ARKK Continues Wedging and Consolidating

On March 30, 2023, I posted (link below) my thoughts on ARKK being a barometer for risk-on / risk-off in this market. I still hold the same view. I’ve updated this chart and it has simply continued to consolidate into a narrower range. I expect a resolution to either the upside or a breakdown. All TBD. The constructive things I see are the consolidation in a small price range AND a big decline in volume indicating to me that there is considerable indecision on other traders’ parts. While I tend to lean bullish on this name, it could breakdown as well. I have alerts at both upper and lower trendlines and may trade it accordingly.
Thanks for looking. Ideas, not investing / trading advice.

İşlem aktif:

I'm a little early here but I've opened a long trade on ARKK as it seems to be holding the 8 EMA, 10 SMA and 21 EMA. I'll run a tight stop if it closes under these MA's. If I'm not stopped out, I'll add if / when it breaks out over the upper downtrend line. All TBD.

İşlem elle kapatılmış:

Price deteriorated pretty quickly so closed for $0.15 loss per share. I love taking quick small losses (as opposed to large losses). Looks as though I was wrong today. Back on the watchlist.