The sharp rise in US Treasury yields is certainly not helping the tech sector. In fact, at this stage the Central Banks are focused on fighting inflation, with all the tools at their disposal. The Fed in particular appears highly motivated. US Treasury yields reached new highs for the period on January 14, breaking resistance at 1.77%. This is certainly not a positive signal for techs.
The ARK Innovation ETF, after strong performance in 2020, started an equally strong underperformance compared to the sector benchmarks. The picture of weakness seems to persist and the ETF also tries to pierce the Fibonacci retracement of 61.8% of the entire uptrend started in March 2020 and which reached the top on February 16, 2021. The break of 61.8% would make the reversal of the main (bullish) trend more likely. It therefore becomes an ETF you can go short on. However, we highlight the candle on Friday: a hammer, which could bring a bit of rebound. We therefore recommend the short after a close below $80 for a short target of $74 and $70.
We recommend going SHORT on the ETF at the closing break of $80 by buying the Leverage Shares Short -3X ARK Innovation ETF (ISIN: XS2399368906), with a short-term target towards $74, and then at $70. Alert/stop loss should be above $84 (closing daily).
The information provided by Websim, a division of Intermonte SIM, a company authorised by CONSOB to provide investment services and registered in the Italian SIM under no. 246, are obtained from sources deemed reliable (of which the company is not able to guarantee the absolute completeness and accuracy) and in any case, if there are doubts about their reliability, this will be clearly indicated. The main purpose of the site is to provide a set of updated and accurate information, studies and analyses in compliance with the provisions of the “recommendations” in current legislation and does not represent a “solicitation to invest” pursuant to art. 1, paragraph 1, lett. t) of Legislative Decree 58/1998.
Sandeep joined Leverage Shares in September 2020. He leads research on existing and new product lines, asset classes, and strategies, with special emphasis on analysis of recent events and developments.
Sandeep has longstanding experience with financial markets. Starting with a Chicago-based hedge fund as a financial engineer, his career has spanned a variety of domains and organizations over a course of 8 years – from Barclays Capital’s Prime Services Division to (most recently) Nasdaq’s Index Research Team.
Sandeep holds an M.S. in Finance as well as an MBA from Illinois Institute of Technology Chicago.
Violeta joined Leverage Shares in September 2022. She is responsible for conducting technical analysis, macro and equity research, providing valuable insights to help shape investment strategies for clients.
Prior to joining LS, Violeta worked at several high-profile investment firms in Australia, such as Tollhurst and Morgans Financial where she spent the past 12 years of her career.
Violeta is a certified market technician from the Australian Technical Analysts Association and holds a Post Graduate Diploma of Applied Finance and Investment from Kaplan Professional (FINSIA), Australia, where she was a lecturer for a number of years.
Julian joined Leverage Shares in 2018 as part of the company’s premier expansion in Eastern Europe. He is responsible for web content and raising brand awareness.
Julian has been academically involved with economics, psychology, sociology, European politics & linguistics. He has experience in business development and marketing through business ventures of his own.
For Julian, Leverage Shares is an innovator in the field of finance & fintech, and he always looks forward with excitement to share the next big news with investors in the UK & Europe.
Oktay joined Leverage Shares in late 2019. He is responsible for driving business growth by maintaining key relationships and developing sales activity across English-speaking markets.
He joined LS from UniCredit, where he was a corporate relationship manager for multinationals. His previous experience is in corporate finance and fund administration at firms like IBM Bulgaria and DeGiro / FundShare.
Oktay holds a BA in Finance & Accounting and a post-graduate certificate in Entrepreneurship from Babson College. He is also a CFA charterholder.
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