$ARK Innovation ETF(ARKK)$ Rebounds +2.63%: Breaking Near-Term Resistance, Targets $75 Zone 🚀Cathie Wood recently attributed market volatility to algorithmic trading rather than fundamentals, reinforcing her long-term bullish stance on AI and disruptive tech. Hedge funds have turned net buyers of global stocks, with notable inflows into Asia. ARKK's holdings, like Tesla (positioned as a future Robotaxi platform), remain central to her "golden age" narrative for U.S. equities. 🔮 Weekly Outlook
The breakout above $70 is constructive. Expect consolidation between $70 and $72.5 in the near term. A sustained close above $70.30 could fuel a move toward the $75 resistance zone. A failure to hold $70 may see a retest of the $68.5-$69 support area.
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