AMEX:LABU DIREXION DAILY S&P BIOTECH BULL 3X SHARES
The was hit hard on the BREXIT vote. I believe LABU has now found a bottom. The LABU shows a and a . The seems to be holding. Set your stops there. %R is over sold and recovering. Last time we saw this we had a run to the upper . A similar move this time will bring us to $42. A very nice return on our $$$ risk if we get it. The purple arrows seem to confirm a trend change they are pointing out the go long alerts. Same as before.
Comment: Looking at LABU. I see a LABU coming out of a 1/2 cycle low here. Pushing higher with the stock market to $42. A possible AB=CD target of $45. I am looking at a 2 hour chart. (refresh). Stochastics turning up, giving me a buy signal as well.