looks ready to retest 60's where there is a large gap
LABU dropped towards the support level, we're going to see if we can get a bounce tomorrow!
Watching for a move higher
Hillary Clintons latest against Myland should continue to drop the bio sector. Expecting early Monday dip, then rebound. Safe entry $24.50, risky appetite at $22.75. Price target $32.
after earnings no more major news until election time. possible martin shrekli enlightenment
There's major global pull back, Biotechnology will scale back, but not as much as SP500 and DOW. You should hedge properly, VIX will be back soon. *Election year is Biotech Year*
The stock market was hit hard on the BREXIT vote. I believe LABU has now found a bottom. The LABU ETF shows a trend line break and a double bottom. The double bottom 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 trend line. A similar move this time will bring us to $42. A very nice return...
With OIL moving lower LABU could drop here to retest the lower trend line. I do notice that the SP500 seems to go with OIL or conversely! I have some LABU. I thought the chart looked good coming off the lower trend line. But if the market moves down with OIL I can expect LABU to follow. I'll probably sell 1/2 my position Today and see how OIL and markets do.
The uptrend for regn looks strong at the moment with the rsi above the 0 line but do be careful in the weeks leading up to earnings release. personally, i am long atm but that may change if I can buy it back at a lower price.