The ARK Innovation ETF (ARKK) has been the punching dummy for stock market bears. The ETF is the brainchild of Cathie Wood and Wood is probably one of the most recognized faces of Wall Street.
Despite the various market watchers forecasting Wood's demise the ETF made a low in late December and a higher low in early May.
Let's check further.
In the daily bar chart of ARKK, below, I can see some improvement in the price action and in the indicators. The shares are now trading above the rising 50-day moving average line and above the bottoming 200-day line.
The On-Balance-Volume (OBV) line has moved similar to the price action with lows in December and May. The now-rising OBV line is a sign that buyers of ARKK are being more aggressive than sellers. The Moving Average Convergence Divergence (MACD) oscillator is bullish.