$FFTY – Innovator IBD 50 ETF (Weekly)
The weekly price action has surpassed the 50-week MA level this week, which had not been achieved since June 2020. Moreover, there have been instances of notable increases in trading volume, indicating potential bottoming process. There is a significant support-turned-resistance level at $26 that needs to be cleared. At the same time, the 50-week MA is undergoing a transition from a declining pattern to a more flattened trajectory.
Similar development is also observed in high beta $ARKK and $IPO ETF
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$FFTY – Innovator IBD 50 ETF (Weekly)
The weekly price action has surpassed the 50-week MA level this week, which had not been achieved since June 2020. Moreover, there have been instances of notable increases in trading volume, indicating potential bottoming process.
There is… pic.twitter.com/BdLCwjcilz
— Jeff Sun, CFTe (@jfsrevg) June 16, 2023