This week, our Top Pick of the Week (TPOW) was the ARK Innovation ETF (ARKK), which we purchased at the opening price of $60.15 on Monday, February 24th. ARKK remains in the green zone with a strong SCTR (StockCharts Technical Rank), continuing to show impressive momentum.
However, we experienced significant volatility with two of ARKK’s major components: Tesla (TSLA) and Palantir Technologies (PLTR). Both stocks have been fluctuating sharply, contributing to the fund’s ups and downs. Despite this, ARKK’s overall performance has been solid, reflecting its resilience amid market swings.
As we typically close our positions on Fridays, this week we decided to hold on to ARKK and roll over the position to the upcoming week. The fund’s strong technical indicators and growth potential convinced us to continue holding, despite the volatility observed in its holdings.
We look forward to seeing how ARKK performs next week and will continue to monitor the market for potential adjustments to our TPOW strategy. Stay tuned for updates as we aim to deliver consistent, high-probability trades.
