Ark Investment (ARKK, $$95.64) sold $22.3 million of Tesla shares
On Tuesday, Cathie Wood’s Ark Investment Management sold 20,446 shares of Tesla. That is estimated to be around $22.3 million.
The sale took place via the Ark Innovation ETF, the Ark Next Generation Internet ETF, and the Ark Autonomous Technology & Robotics ETF. These three ETFs held 1.84 million shares of Tesla worth about $2.01 billion ahead of Tuesday’s trade.
Tesla is Ark’s largest holding.
According to Ark’s forecast, Tesla shares would hit $3,000 by the end of 2025.
ARKK in upward trend: price rose above 50-day moving average on November 01, 2024
ARKK moved above its 50-day moving average on November 01, 2024 date and that indicates a change from a downward trend to an upward trend. In of 43 similar past instances, the stock price increased further within the following month. The odds of a continued upward trend are .
Technical Analysis (Indicators)
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on November 27, 2024. You may want to consider a long position or call options on ARKK as a result. In of 85 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for ARKK just turned positive on November 06, 2024. Looking at past instances where ARKK's MACD turned positive, the stock continued to rise in of 44 cases over the following month. The odds of a continued upward trend are .
The 50-day moving average for ARKK moved above the 200-day moving average on October 30, 2024. This could be a long-term bullish signal for the stock as the stock shifts to an upward trend.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where ARKK advanced for three days, in of 333 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 307 cases where ARKK Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
Bearish Trend Analysis
The 10-day RSI Indicator for ARKK moved out of overbought territory on December 03, 2024. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 44 similar instances where the indicator moved out of overbought territory. In of the 44 cases, the stock moved lower in the following days. This puts the odds of a move lower at .
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 3 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where ARKK declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
ARKK broke above its upper Bollinger Band on December 02, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
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