Thread by @marketplunger1

📉 TOP $ARKK BEAR CHARTS THREAD 📉

The following thread is a collection of the most bearish charts inside the $ARKK ETF.

It's important for those that are long to understand what's inside the ETF -- as well as what the charts are saying.

Will disclose which name's I'm short!

1/ Tesla $TSLA

Can't mention $ARKK without a $TSLA chart. Two things to note:

- Stock below its 20MA and 50MA (bearish)
- Failed bull reversal earlier in the week failed to break both moving averages

2/ Roku, Inc. $ROKU

As a long-term bull on ROKU, this chart excites me -- a higher chance for lower prices in the mid-term.

The chart tells me to go short, but I love the bull thesis so much I can't.

Idea: Sell some puts at prices you'd love to buy it at. High vol = hi prem

3/ Spotify $SPOT

A breakdown from rectangle chart pattern and now trading below the 20MA and 50MA. Higher odds of lower prices ahead.

Again -- love this name long-term so not sure I want to touch on the short side.

Idea: sell puts at prices you'd love to own

4/ Exact Sciences $EXAS

*I added this to my short book this morning for 45bps risk*

Ugly chart after breaking down from H&S top. Trading below 20MA and 50MA

5/ Docusign $DOCU

This is your time @BillBrewsterSCG to play the "I don't get how $MSFT can't beat this" thesis.

The chart looks UGLY.

6/ Pure Storage $PSTG

Just another ugly chart here. Looks like the next support level is ~$17/share

7/ Twist Biosciences $TWST

This is one I might take short going into the close. It's just such a beautiful H&S top breakdown.

8/ KE Holdings $BEKE

New(ish) IPO that's breaking down from its long-term rectangle consolidation pattern.

9/ Intellia Therapeutics $NTLA

Nice H&S top breakdown here. Caution though as its breaking down from a diagonal neckline (not as decisive as horizontal)

10/ Synopsis Inc $SNPS

*I am short this in my short book*

A beautiful breakdown from H&S top and trading below 20MA and 50MA.

11/ Seres Therapeutics $MCRB

This is just a beautiful breakdown.

They say all gaps (eventually) fill ...?

12/ Beam Therapeutics $BEAM

A horizontal breakdown below the 20MA and 50MA.

13/ Nanostring Tech $NSTG

Winner of the "Coolest Name in ARKK ETF" -- this is a classic support level breakdown below the 20MA and 50MA

14/ Taiwan Semiconductor $TSM

I know -- I went there. Don't shoot the messenger. I'm going from what the chart says.

Long-term investors should welcome the higher-odds of lower prices in the near/mid-term

15/ Berkely Lights $BLI

New(ish) IPO now trading below its IPO open price. Looks like no buyers at these lower levels.

I wonder if it's becuase its a $3B company that did $56M in sales last year?

16/ Concluding Thoughts

Thanks for sticking with me! If you're interested in charting, please follow these people:

@PeterLBrandt
@TechCharts
@the_chart_life

Charts are possibilities, not forecasts. Opinions loosely held win here.

Proper risk & cut losses quickly. GLTA!