$ARKK is trying to climb out of a “NoGo” trend that saw a series of lower highs and lower lows since early August.
Early this month, GoNoGo Oscillator broke into positive territory on heavy volume and GoNoGo Trend painted amber “Go Fish” bars as price gapped higher off the most recent low. A few bars later, GoNoGo Trend was able to paint aqua “Go” bars as a new trend was identified. However, almost immediately, after just one more “Go” bar, GoNoGo Trend started to paint more amber “Go Fish” bars. This represents uncertainty. There is some convincing to be done here for investors to take the plunge and buy up $ARKK. With GoNoGo Oscillator in positive territory that is a good sign. We will watch to see if GoNoGo Trend can return to paint more “Go” bars and then we will look for price to set a new higher high.
