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.
Here I chart LABU / QQQ ratio to determine relative strength.
On this weekly chart, the ratio and so relative strength are at more than a 52 week low.
The MACD indicator shows the...
This Daily Chart plots LABU to LABD ratios over time. LABU is 3X Leveraged ETF of a variety of biotechnology
stocks while LABD is the inverse.
By plotting the ratio of LABU to LABD, what can be found is the precise end of the LABU downtrend (LABD uptrend)
and reversal into LABU uptrend ( LABD downtrend).
In this case, the reversal occurred about June 17th...
Emergency: U.S. declares monkeypox a public health emergency
The Direxion Daily S&P Biotech Bull 3X Shares fund provides exposure to a large range of high-performing biotechnology companies in the US. Managed by Direxion, which is headquartered in Milwaukee, Wisconsin this fund was established in May 2015.
The key objective of the Direxion Daily S&P Biotech Bull...
Back in for another LABUing ;) Basis is a wedge pop but little bonus its also a wick play
Entry 9.15
Stop -8.26
Pt 1 - 10.04 , Sell 1/4 stop to half
PT 2 - 10.94 , Sell 1/4
run balance
Took an hourly wedge pop near the close on labu and seems to also be a bounce off trendline here too ..
I like the proximity to my 10/21 emas here and I like the hammer bounce off TL.
Entry - 8.82
Stop - 7.88
PT1 - 9.78 . sell 1/4 , stop to half risk
PT2- 10.71 , sell 1/4
A bit late on my entry but LABU is strongest sector right now so better get started .
Stop - 8.57 vs yesterdays low
PT 1 - 10.04
- Raise stop to half risk here and sell 1/4
PT 2 - 10.88
- Sell another 1/4
Run balance , sell some on climax or all wedge drop
it is about to break this local TL resistance area, once we see breakout confirmation we can target
rejection from trend can send it back to 6.2-7 supports
labd approaching all time low support, considering lots of other tech plays have broken below lows... I dont think this bottom is in yet.
broke below trend support, that should act as resistance if LABU rallies again.
like and follow for more Heart with arrow
I honestly cannot find a better opportunity in the market than LABU currently. The ETF is XBI*3, which has demonstrated some major cyclicality and is currently selling below it's 2015 highs.
My analysis is as follows:
Record volumes on LABU specifically, but more or less
XBI too. This implies we've hit a level of importance.
It's quite clearly been...
