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LABU 3X Leverage BIOTECHNOLOGY a potential Recession playLABU a 3x leveraged EFT in the biotechnology sector has diverse holdings. My thesis is that biotechnology and healthcare are relatively unhinged from the broader general market. Here I chart LABU / QQQ ratio to determine relative strength. On this weekly chart, the ratio and so relative strength are at more than a 52 week low. The MACD indicator shows the MACD and signal line ascending and below the histogram.; moreover the MACD in green is running above the signal line. This favors a trend reversal. All in all, this seems to be a setup for a long swing trade or investment. I will take a trade in a call option with a strike 50% higher than current price as I see a potential for a large percentage gain for LABU. The diversity of the ETF will serve to mitigate some of the risk. A stop loss will be 1% below current price with an expectation of more than a 50 % return in the remainder of the calendar year but far more in the case of the call option scenario
AMEX:LABULong
by AwesomeAvani
one minor hickup for broader marketssemiconductors have been a lead bear in this downturn since december, and a lead bull on the monthly bounce from the lows since july. if we roll over here setting a lower high on this etf around the first upper horizontal i would look for broader markets to consolidate on the daily. if we treat pivot as support i would target the upper horizontal and look for continuation in broader markets. most likely scenario is a gap down followed by a rally to close with price action after to be determined.
AMEX:SOXL
by cerealpatterns
SPY / SPXL - S&P 500 Analysis - Outlook$SPY / $SPXL 👀 – 08/15/2022| S&P 500 | #Future #Outlook 🎯 - 📸 🚨 📌 What’s good #PublicCommunity? Que es la qué hay corrillo? 📌 We’re currently impulsing within Wave 3 of the Intermediate Degree (in blue). Anticipated target before the corrective Wave 4 of the Intermediate Degree (in blue), is approximately within the range of 1.618 to 2.618 (extension), of Wave 1 of the same degree (in blue). 📌 Trading $SPXL : I am looking to take partials at the completion (or around 2.618%) and then go long again at the completion of corrective Wave 4, of the Intermediate Degree (in blue) and hold until the completion of Wave 1, of the Primary Degree (in black). 📌 Investing #LongTerm $SPY : I am looking to add onto my holdings at the completion of Wave 4, of the Intermediate Degree (in blue) and again at the completion of Wave 2, of the Primary Degree (in black). ✅ If you thought this was helpful or insightful: Follow, Like, or Share ✌🏾 #PublicCommunity 📈 To View or Save My Chart: ⚠️ This is not investment or financial advice; Anytime you enter the #markets, you fully accept the #implications at your own risk❗️ #longterm #learning #makingmoneymoves #invest #strength #buildandgrow #breakingnews #crypto #cryptowinter #ElliottWave #FedReserve #investmentidea #investmentopportunity #SPY #SPX #Stocks #Leverage #LeveragedEFT #EFTs
AMEX:SPYLong
by ElBichotedelosGraficos