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.
Moving higher for three straight days is viewed as a bullish sign. Keep an eye on this stock for future growth. Considering data from situations where ARKK advanced for three days, in of 337 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. of 53 cases where ARKK's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
ARKK moved above its 50-day moving average on March 20, 2024 date and that indicates a change from a downward trend to an upward trend.
ARKK may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
The Aroon Indicator entered an Uptrend today. In of 353 cases where ARKK Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
The Momentum Indicator moved below the 0 level on March 22, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on ARKK as a result. In of 78 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
The Moving Average Convergence Divergence Histogram (MACD) for ARKK turned negative on March 06, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 44 similar instances when the indicator turned negative. In of the 44 cases the stock turned lower in the days that followed. This puts the odds of success at .
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 .
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Category MidCapGrowth