LABU - Let the rally begin!

I have seen a few people buying LABU 2 days ago at the exact bottom. Guys you might have bought the exact bottom of Biotech! So please don't ruin that position because I'm pretty sure we are breaking above the 100 EMA in a few days and most probably more rally is coming.

2 days ago we broke below the trendline but the selloff couldn't last for too long. We not just printed a reversal breaking back above the trend line but almost printed an island reversal. Let's say we have 1/2 island reversal. The gap below today's bottom might never get filled.

RSI left oversold just like at the previous rallies. MACD turning up -crossing over soon. This rally could be even more powerful than last one. A 30-35$ rally is not out of the table...

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Do not try to take profit. If you take profit you will be forced to buy back at much higher prices or you will miss all of the rest of the rally.
This one has printed an intermediate cycle low 3 days ago by breaking the trendline. So it will run for 6-8 weeks. This is going to be a horrible rally.
Use the dips to add the position. This trade will be the a big winner.

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If we close here at 30.62 we rallied 40% this week.
Unbelievable.

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The 2 adding points:
29.3 and 27.7. If you add at 29.3 have some dry powder to add around 27.7-28.
I don't think the gap will be ever filled.

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LABU was a buy at 29.3 today.

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Today LABU is a buy again.
Try to buy the dips!

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Don't freak out because of yesterday's red candle!
Every red candle is a reason to add for 2 weeks from now
One could use the 10 EMA on the 4hrs chart to add the position
Watch how 10 EMA is supporting the trend...

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I'm 100% sure we will tag 40$ in 2 weeks.

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LABU premarket 34.6
Almost all of yesterday's decline erased...

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I don't have premarket data yet but because of the JUNO news I'm quite sure we will open with a gap.
(UP gap) I think the whole market will have a small correction today so I'm going to sell half of my LABU position into the open. I will buy back at the close , or tomorrow at the open.
Will post it in the stock trade.
It's just a small game you don't have to follow one could loose the position or have to enter at higher price...

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A few of you asked would Ibuy the dips in LABU or not.
I said yes, but now at the open I will not buy. I want to wait what's happening today.
S&P is in a rally mode but we could stop for 1-2 days. That would affect LABU also.
It could drop a bit more. I would like to buy now lower.
So if you are in a long position just hold.
If you are at the sidelines just a wait a bit for better price. I will post in the stock trade when I add .

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We are opening with a gap.
I tried to calculate the worst case if we fall. All who is overleveraged could close some position now at the open. Just in case not to be stopped out at the blue dotted line

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Still valid. I say tomorrow the latest when we are reversing.

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We just closed the GAP and closing above the 100 EMA by the close.
It might be a buy today. I'm fully positioned so not buying, just a short thought....

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