LABU

Updated

I like LABU here. The stock markets are starting a new cycle which will move LABU higher. I have a target of $60, but I bet it goes much higher.

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Retest of the break out! Should continue higher as long as the markets do.

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$40.42 completes the AB=CD pattern then we should go higher. If you are still holding RSI and %R are way over sold and TSI still above 0 so that's looking good too.

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So with LABU, I like to take a position when I expect a move higher in the markets. I don't expect a move higher in the markets so its hard to take a trade in LABU. However, if the BAT pattern is completing (blue shaded) then you can expect a 50% retrace up to $44 area.

bhowe

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