LABD: Breakout Setup Above $6.68!LABD is forming a bullish breakout setup with an entry point at $6.68. Here are the trade parameters:
Entry: $6.68 (yellow line, breakout level).
Stop Loss (SL): $6.47 (below support zone).
Take Profit Targets:
Target 1 (T1): $7.11 (first resistance level).
Target 2 (T2): $7.56 (next resistance le
Key stats
About Direxion Daily S&P Biotech Bear 3X Shares
Home page
Inception date
May 28, 2015
Structure
Open-Ended Fund
Dividend treatment
Distributes
Distribution tax treatment
Ordinary income
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Primary advisor
Rafferty Asset Management LLC
Distributor
Foreside Fund Services LLC
LABD is a daily leveraged inverse (-3x) bet on an equal-weighted index of US biotech stocks. The vast majority of the fund's exposure is to biotechnology and medical research but also captures significant exposure to pharmaceuticals as well. As a leveraged product, the fund is not a buy-and-hold investment. It gets its leverage exposure through a through a portfolio of swaps that gets rebalanced at the end of each trading day. Because of that, the fund's return for periods longer than a day becomes path-dependent and is likely to be different from -3x the return of the index for the same period. This makes LABD suitable primarily for short-term traders. Over time, compounding effects can lead to profound differences in expected returns relative to the index.
Classification
What's in the fund
Exposure type
Cash
Bonds, Cash & Other100.00%
Cash100.00%
Top 10 holdings
Strong bullish case for $LABDCan see this at $15.00 given that is where most shares are currently held, according to FRVP; this means there will likely be little downwards price pressure until then. Biotech is generally bearish outside of select, short-lived bull runs - this, in my opinion, creates an opportunity for sentiment
Direxion Daily S&P Biotech Bear 3X Shares (LABD)On daily chart, LABD is trading in an uptrend, and by Friday’s session, LABD has broken major resistance that lies on 29.19$, and the confirmation of that breakout, will trigger LABD witness further rises near to 31.72 – 34.20 – 41.40 – 42.71 om short term basis.
Stop loss will lies below 25.66$(las
LABD 3X BEAR BIOTECH LONG DAYTRADEAs shown on the 15-minute chart, LABD is bouncing between stardard deviations of the VWAP in a 6% price range
fluctuation day to day. At the upper end it is reversing at the POC of the volume profile confluent with one
standard deviation above VWAP while at the bottom it is bouncing from the
LABD false breakdownXBI has been super weak lately, and in our earlier decline lead the way down. On the whole I think its a garbage sector RN with the amount of uncertainty in the market and the fed raising rates. The chop it's experienced in the past few months is textbook bearmarket. No one wants it, but everyone's
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Summarizing what the indicators are suggesting.
Oscillators
Neutral
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Neutral
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Neutral
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Neutral
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Moving Averages
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Moving Averages
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Displays a symbol's price movements over previous years to identify recurring trends.