Yesterday 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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Another gap open. And maybe another big day for LABU today... +5%
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Selling half of the LABU position as we almost tagged the 100 EMA at 39.50. I feel the NFP data will be week and we will open a GAP down. If not I will be riding the trend with the rest of the position
Sell 125 LABU at 39.50$
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Tested the 100 EMA
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peterfox
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Now that it tested the 100 EMA, what do you think will happen next?
jinyuji210
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Thanks for your great analysis. I made money on Labu although I sold in this morning. Do you think when we can re-entry? do u think it will fill the last gap? Thanks.
dimitriosb602
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Sold 75% of position at $38.90... thanks Arpi..
dimitriosb602
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Price target is $41.00.. At that PT will sell 50% of position
chachacallis
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what company do you use for your shares?
chartwatchers
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You mean what broker I'm trading with?
chachacallis
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yes
chartwatchers
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I'm at SAXObank. But Interactive brokers is very good also.