LABU - Break-out & bullish signals
LABU daily chart showing a recent break-out and successful back-test of the longer-term down trend.
Optimism present due to a recent Bullish Cross on the MACD, price closing above the VWAP on Friday, price now above the 50-day MA, and buyers appear to be coming back.
BBs staying tight on the daily suggesting a significant move may occur soon. Last time the BBW was this low the price move was +20%. Targeting a similar rise in price on this trade to the $8.30s or $8.40s.
NFA.
Optimism present due to a recent Bullish Cross on the MACD, price closing above the VWAP on Friday, price now above the 50-day MA, and buyers appear to be coming back.
BBs staying tight on the daily suggesting a significant move may occur soon. Last time the BBW was this low the price move was +20%. Targeting a similar rise in price on this trade to the $8.30s or $8.40s.
NFA.
Comment:
Took profits and closed long calls