LABU needs some love, i think it will get it soon.This setup is looking pretty nice. Has bounced almost every time at this support, I think it shall for the accumulation highs at my top line.
Key stats
About Direxion Daily S&P Biotech Bull 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
LABU is a daily 3x leveraged 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 portfolio of derivatives contracts 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 LABU 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
Health Technology
Mutual fund
Cash
Stock breakdown by region
$LABU thesis on the weeklyThis is LABU that might go up to plus 200. I describe a little bit of my divergence technic and how it might be doing a higher low.
LONG LABUThere is a great potential reward to risk ratio on LABU that is trending in a parallel channel.
The idea is to buy at the bottom of the channel an sell at the top on un uptrend.
Buy 124
Stop loss 119 ((just below the most discernable low)
Take profit 149 (at the top of the channel that coincides
$TSLA $LABU After open 8-19-24 Analysis Analysis of the after open on this day, explaining why I took profits and might be expecting a pullback to get in again.
LABU Stock Chart Fibonacci Analysis 032124Trading Idea
1) Find a FIBO slingshot
2) Check FIBO 61.80% level
3) Entry Point > 136/61.80%
1) Find a FIBO slingshot
2) Check FIBO 423.60% level
3) Hit the top = 57/423.60%
Chart time frame : B
A) 15 min(1W-3M)
B) 1 hr(3M-6M)
C) 4 hr(6M-1year)
D) 1 day(1-3years)
Stock progress : B
A) Keep ris
LABU a 3X leveraged ETF of biotechnology stocks LONGLABU on a 240-minute chart has been in a trend up gaining 100% in 3 months. Both the fast and
slow ( green and red) are above the 50 level. Biotechnology is expected to be a hot subsector
this year as healthcare recovered further from the COVID pandemic anything from startups to
big pharma-
LABU / LABD Ratio Anchored VWAP over /under LABU LONGOn the weekly chart a LABU / LABD ratio is plotted with anchored VWAP bands and a volume
profile overlaid. I wanted to analyze this to affirm the highest of prospects for the
Biotechnology sector for 2024. LABU is triple leveraged Up while LABD is the inverse Down.
A good unleveraged biotech
LABU - Potential 65% upsideLABU bottoming out - With the recent Nasdaq rally, Biotech hasn't performed at all.
Potential upside of 60% for a 3 month period ( Aug to Nov 2023)
LABU - One of my favorite Leveraged ETF
Reclaimed the breakdown level and now holding that level nicely.
Squeeze likely to start soon and push it to at least 5.5/6
If 3.4 is lost again, could test 3.0
I am long via commons at 3.50 today. Like the risk/reward here for a double up.
See all ideas
Summarizing what the indicators are suggesting.
Oscillators
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Oscillators
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
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.