LABU trade ideas
Bullish LABU 100% Per Month This instrument currently has very strong, positive sentiment due to correlation with SARS-CoV-2.
RSI shows that the ETF is not overbought.
Index Top Ten Holdings (%):
Regeneron Pharmaceuticals 2.77
Moderna 2.65
Gilead Sciences 2.43
Vertex Pharmaceuticals 2.32
Biogen 2.27
United Therapeutics 2.26
Biomarin Pharmaceutical 2.25
Seattle Genetics 2.16
Exelixis 2.06
Acadia Pharmaceuticals 2.03
Looking for a bounce off of the 0.5 fib retracement at $46.18Keeping an eye on the biotech sector as we see the markets skip due to reactionary virus fears. The weekly may indicate a bullish wedge pattern as it the price swings converge closer and closer together. Short-term bearish. Mid to long term, bullish.
LABU Long ideaBuying LABU here, might be a little early. The price is above the 10 sma although many of the supporting averages are not aligned higher. Its more gambling than investing at this point.
short this for nowNew trading level. Trading in a channel. Price is moving sideways. 50EMA just broke above the 200 EMA. Price is pulling back and will likely test the previous bottom where money will flow back in to move this up again and with enough momentum we may break this ceiling and continue upwards. But for now, it will follow the general market and shorting this stock seems like the best play.
Are we Going Back down to 30 busck a share ?Bernie sanders is a huge threat to Biotech and he is winning in the polls , I am expecting healthcare to keep falling and also possibly move higher on news that trump is winning up in the polls
$LABU #LABU imo it's an opportunity here As long as my line stay green adding on dip this week is an opportunity to profit early in Spring ( seeded time for #biotech is now)
but mostly trading on daily base , today I wait longer 3-4 days perhaps
$LABU when these two lines cross would that be a buy signal?It looks like they are going to cross...If so the price of $LABU will spike even further.
Double bottom playLabu is forming a double bottom. This sector has been bearish all year and should make a comeback. Price should be testing the 50ema soon and will make for a good set up.
LABU Short oppurtunityLABU is currently in a descending channel and I don"t believe we will be breaking said channel look for a bounce of the top it is currently very overbought.
PT1=24.75
PT2=Bottom of channel
SL=36.00
Build Positions in BiotechAs the month of October begins and broader markets sold off, Biotech sectors are still negative/ flat for the year. Market headlines from high prescription drug prices and lawsuits regarding the opioid epidemic have plagued some of the IBB's largest holdings; which have held biotech ETF's down while the S&P reached all time highs.
Fast-Track Synopsis:
Biotech is a known high volatility trading environment;
More Investors will become "Traders" with new $0 trading fee platforms from Schwab and TD Ameritrade.
Once people begin trading stocks, they will find that high volatility is how the "big" day-trade/ swing trading money is made.
New Med-tech and Biotechnology therapies (i.e. gene therapies, NASH/ NAFLD) are ripening and getting closer to approval.
There are currently over 240 biotechnology companies with Gene therapy IP
IP has been growing with RMAT and Breakthrough Designations due to unmet need of new novel treatments;
As Biotech rolls into year-end, lower interest rates will propel company growth models which I believe will help drive buy outs.
LABU Technical Analysis:
Bullish Harmonic Gartley pattern and close to 52-week low.
1-year Gartley pattern should move LABU stock price back up to around $40 level (resistance) where we will be watching for a potential breakout
CCI measured "oversold" with the end of September pullback, CCI-slope is now trending higher,
This last pullback also measures a double bottom (data points are from Christmas 2018 and present)
Intra-day bullish RSI divergence, Daily RSI trending higher;
the MS Signal recently flipped green as of 10/1/2019 and is still indicating a nice swing opportunity to come.
Three-drives pattern bouncing toward resistance concurrent with double bottom and Gartley pattern.
Look for the support level (marked (x)) to hold.
See conclusion here !
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Disclosure: I do not own LABU, I may buy or sell within the next 48 hours. This is not a recommendation to buy or sell. Please do your homework before investing.
LABU - watch the volume and trend lineBiotech has had a hard time of it lately due to both political risks related to the election and litigation risks from the opioid epidemic. All of this, of course, on top of broad market weakness due to the China trade war.
However, biotech earnings are better than most sectors this season, so the bear market likely won't continue forever. I've drawn a trend line on my 1-hour chart and am watching for an upward breakout. Today we had some nice volume come in as we recovered from oversold on the daily chart and achieved our first green day for some time. However, we fell short of the minimum 6 million shares I'd like to see to signify a true reversal. We also fell short of breaking my trend line.
I expect LABU will fall to about 25.50 before it's likely to get a real bounce.
Update on TradePrice has hit 50EMA and a decision candle has formed. Look for price to hold for confirmation that this will be a trend reversal. Still, even if not timed properly, this is a good price compared to what it has been.
double bottomKeep your eye on this ETF. Trading down right now. Looking for a strong break above the 50 EMA but it looks like it will first test a low from earlier this year and form a double bottom play. Don't buy yet. "the stars have not aligned yet for this trade ;)
i see a breakout to the upside coming I think with Good news coming from china and Feds cutting rates 50 basis points … Labu could revisit high of 52 … where we were at less than a month ago
LABU: This is finishing a wave 2 correction. Once the SM finishes its wave 2 correction, this should take off in tandem with the SM.
LABU: At a very critical stageSitting at a point that is highly critical. If this picks some volume and momentum tomorrow, then this is the bottom and will NOT see this price again in some time to come. We have a shot at 51+ tomorrow but all depends on momentum. So watch this carefully and gl.
Pharmaceuticals showing strength this earnings seasonIt's been a banner quarter for large-cap pharmaceutical companies. We've had earnings beats and guidance upgrades from GlaxoSmithKline, Biogen, Bristol-Myers Squibb, Merck, Celgene, and Procter & Gamble. More earnings beats may be coming, with Amgen reporting today after market and Amarin tomorrow. In my opinion, the whole sector is set to surge, and the leveraged Direxion Biotech Bull ETF could be a very strong play this quarter if you can find a good entry point.
My fans asked and I obliged, but LABU ain't lookin' greatOne of my followers asked (and this has never happened before) for me to comment on LABU. I was touched by the request and so I have responded, and this after having a website which I shut down with 10,000 hits a month never once did anyone ask me to comment on a stock. My strength has always been analysis and dissection so I am happy to oblige.
LABU isn't looking very strong. Its currently trending downwards, it's below the SMA line which I used for my day trades and it has a lot of overhead resistance. For a while it looked like it was in a condensing pattern and has broken down and then decided to move sideways. These are not adjectives and verbs you use to describe a stock that's in a good place. The odd thing, going to about two years is that the stock is inside an even larger condensing pattern that must be watched closely. Its currrently holding just above support and if this breaks a big slide could be witnessed!
