On the 4H Chart LABU is trending up since March 27th. Last week there was a small pullback which was met with more buying activity.
On the volume indicator, the volume now is approximately 10X day by day compared with March's averages. It is this buying that is driving
the bullish momentum. Small-cap speculative biotech companies are in a growth mode right...
Here goes another shot on LABU , based on yesterdays signal but we are in a TTR ( tight trading range) , so not the best setup , but having said this, I wanted to make sure I stayed focused on LABU since I think that it is a leader based on all the biotech stocks ripping for quite a while now and the fact that it has been seeing some massive volumes and bottomed...
Price diverging from the 11EMA and 60 VMA. Breakdown should send this to 5.10 and ATL. That might be last impulse move to downside. 4.5 would another zone of interest for bottom.
no reason to be bullish here. Downside capitulation risk is high here.
LABU daily chart showing a recent break-out and successful back-test of the longer-term down trend.
Optimism present due to a recent Bullish Cross on the MACD, price closing above the VWAP on Friday, price now above the 50-day MA, and buyers appear to be coming back.
BBs staying tight on the daily suggesting a significant move may occur soon. Last time the BBW...
Re-Entered LABU today .
Standard trade management .
see chart for details and notes ..
we are in a TTR so probably a good idea to wait for a break above 8.44$ and trade this with a buy stop above that days close but I am trading it here because that is what my system requires of me .
This is one that I have decided to play based on the following thoughts :
I think there is a good chance that QQQ/SPY may have bottomed on Oct 13th
That being said , although LABUs and XBI's relative strength vs the market has only been ho hum , it still seems to have possibly bottomed on the 16th of June when the market indices where still putting in new...
Two pitchfork lines (one with dashed lines and one with sold lines) neatly matched their bottom lines. The price (approximately) reached that level 5 times. Further, the solid's middle red line matches pretty well the dashed pitchfork top lines. All these makes for a more confident prediction(s). The first is that the price will reach above 14 (the top dashed...
labu just completed a breakout from the abcd pattern and im anticipating a bull flag breakout to 13, then 19, in which I then see a retrace to form the handle to the base of the cup
AMEX:LABU
LABU a 3x leveraged EFT in the biotechnology sector has diverse holdings.
My thesis is that biotechnology and healthcare are relatively unhinged from the broader general market.
On this 15 minute chart, consolidation at support is seen in July, Price then rapidly rose
into a triple top in mid-August followed by a descent into a double bottom at...
