LABU trade ideas
Very close to the lows $IBBIf prior lows hold that would be the new bottom if not look for more downside.
LABU - Trendline: next stopI loved LABU's last 18$ run. I'm looking forward to see a 20$ run in the following weeks.
A perfect entry point could come if we tag the trendline again. I'm a little bit afraid that we cannot reach the trendline so most probably I will try to reenter in LABU early next week and if we tag the trendline I will be adding to the position.
RSI is in the ideal territory looks ready to bounce just like in the past.
I set this idea as long but I'm waiting for an entry point next week only.
LABU - Gap openYesterday we closed on the 50 EMA and today we opened with a gap. Gap wasn't filled.
10 and 20 EMA is crossing over, MACD just crossed over and heading to positiv territory.
RSI is overbought, but could be overbought for weeks - we had it at the decline.
Tomorrow we might have a testback of the 50 EMA . But I think we are going to break the April highs and test the 100 EMA very soon (in a few days) .
I like the volume here much better than S&P 's volume.
We have a strong support at the trendline now as it was holding the 3rd time...
I'm holding the LABU position. THe 50 EMA testback could be a good adding or entry point : that should hold now.
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still major accumulation mode, breakout next week$LABU - holding this baby for 9 days, still long and strong.
still a great buy, target is on the targetthe run is about to start next week, this "W" will be formed, don't be shake out.
Bullish position on LABUI believe LABU is at great support zone, soon we'll see it getting to 0.236 resistance zone, which will be 30.86
BulliLABU, 3x leveraged Bio Medical ETF looks to be completing a Bullish Bat pattern. If this is the case you can expect a 50% retrace to the $30.78 target minimum. TSI turning higher and buying volume coming in!
Like IHS pattern a lot, here is another one XBI has been beaten down severely, but this Inverse Head and Shoulder has a play here.
LABU - The biotech updateBiotech is getting more and more bullish from day to day.
Even the S&P was falling on Friday , LABU closed on the daily maximum with
a nice volume.
Rsi is not overbought.
MACD couldn't cross down.
I think next week a higher high is coming.
I would like to see the 50 EMA to cross below the 20 EMA and the 10-20-50 EMA should support the price
during the rally without crossing over...
The test of the 100 EMA is coming at 47.26.
If you zoom out you can see the possibility in this vehicle...
LABU : +22,46%BioTech had started the big rally finally. Record volume today.
22,46% in one day. It's not bad and it's only the beginning.
The rally should last 1-1.5 months...
Don't touch the portfolio just let it work for at least 1 month.
WATCH THE POTENTIAL.
We might be talking about 500% this year.... (200$)
