Technical Summary: The trading action of the HACK ETF on the chart above looks quite patchy. This is because many of the underlying stocks trade on foreign exchanges. The values of which move overnight. Because its value is derived elsewhere the trading action will gap around to reflect the changes overnight. However the patchy behaviour shouldn’t necessarily concern investors or traders. Recently the stock has pulled back from $7.50 per share to below $5.90. The recent move above the 50 day moving average
suggests that the bottom might have been found. The bounce back has been quite strong and the stock looks a bit overextended just now. It would make sense at the current juncture that the stock will consolidate a bit.