ARK set for further consolidation before another breakout?

After the recent spike there are a number of small signs that consolidation may occur before a further break out.

- formation of an ascending triangle pattern
- this pattern is often associated with a contraction in trading volume, indicating consolidation. This is evident in the recent ARK trading volume
- fib extension shows that 0.618 level is currently being tested
- a fall back toward the 0.5 level is likely prior to a further rise