$Innovator IBD 50 ETF(FFTY)$ 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 $ARK Innovation ETF(ARKK)$ and IPO $Renaissance IPO ETF(IPO)$
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