Ark has found the bottom at $1.77. That is 127.2% Fibonacci retracement
level applied to the corrective wave up after the uptrend trendline
breakout. The support has been rejected cleanly, and the bullish divergence
was formed on the RSI
oscillator. The following wave up resulted in break above the downtrend trendline
which could be the trigger for the strong move upwards.
The strong resistance is seen at 50% Fibonacci retracement
level that is $6.7, and a potential 150% rise from the current price. Break and close above the resistance should confirm strong uptrend, while rejection could result in a consolidation or a correction down.
On a downside, break and close below the $1.7 support should extend the consolidation and could send price lower.