LABU Triple Leveraged Biotech Sector ETF
On the 4H Chart LABU is trending up since March 27th. Last week there was a small pullback which was met with more buying activity.
On the volume indicator, the volume now is approximately 10X day by day compared with March's averages. It is this buying that is driving
the bullish momentum. Small-cap speculative biotech companies are in a growth mode right now no matter adverse economic conditions
for those yet to have any earnings. Big pharma is more concerned about federal attempts to further regulate prices than the economy.
On the volume profile, price has ascended to above the high volume trading area on the strength of buyer interest propelling the
momentum. Overall, this looks to be a decent long trade. The target is $ 9.00 the YTD high back in February.
On the volume indicator, the volume now is approximately 10X day by day compared with March's averages. It is this buying that is driving
the bullish momentum. Small-cap speculative biotech companies are in a growth mode right now no matter adverse economic conditions
for those yet to have any earnings. Big pharma is more concerned about federal attempts to further regulate prices than the economy.
On the volume profile, price has ascended to above the high volume trading area on the strength of buyer interest propelling the
momentum. Overall, this looks to be a decent long trade. The target is $ 9.00 the YTD high back in February.