Nerds Assemble
LABU is nasty. Rejected the resistance at 39.45 and went into a deep downtrend. Currently heading toward march 2020 lows if it continues this path. Nothing is showing reversal signals as of yet so this would be a knife catch play. Only thing i can see is RSI is low enough to allow a good size run but needs bulls to step in. i would like to see some consolidation to stop the bleeding or an ema reclaim before any bullish thoughts.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.