DRX DLY S&P BIOTECH BULL 3X (LABU) Stock Technical Analysis
NYSEARCA:LABU - NYSE Arca - US25460G1206 - ETF - Currency: USD
Taking everything into account, LABU scores 3 out of 10 in our technical rating. Recently some decent action could be observed, but in the medium term time frame this is still negative. LABU was also a bad performer in the overall market in the last year.
The long term trend is still negative, but the short term trend is neutral. It is advised to wait a little bit longer to see how this turns out.
When comparing the yearly performance of all stocks, LABU is a bad performer in the overall market: 93% of all stocks are doing better.
LABU is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.
In the last month LABU has a been trading in the 48.22 - 64.10 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.
LABU has an average volume of 1962220 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
Although the technical rating is bad, LABU does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 57.38. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 56.17, a Stop Loss order could be placed below this zone.
More info and screens
55.14
63.28
When analyzing the support we notice one important area.
- A support zone ranging from 55.70 to 56.17. This zone is formed by a combination of multiple trend lines in multiple time frames.
We can see 4 important resistance areas.
- A resistance zone ranging from 57.38 to 57.67. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- Resistance @60.43 from a horizontal line in the weekly time frame.
- Resistance @61.64 from a horizontal line in the daily time frame.
- Resistance @62.65 from a horizontal line in the daily time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | DOWN | NEGATIVE | The long term trend for LABU is down. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for LABU is neutral. |
| ChartMill Relative Strength | 7.61 | NEGATIVE | LABU has a low relative strength, it was outperformed by 92.39% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of LABU is below the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of LABU is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of LABU is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 51.21 | NEUTRAL | The RSI value for LABU is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.2 | NEGATIVE | The MACD value suggests LABU has a negative trend. |
| Stochastics (14,3) | 41.64 | NEUTRAL | The Stochastics value for LABU is a neutral value. |
| Average True Range in percent/ATR (20) | 6.32 | HIGH VOLATILITY | The high ATR as a percentage value for LABU suggests high volalility. |
| Average Directional Index/ADX (14) | 11.3 | NEGATIVE | The low ADX value for LABU suggests a weak or negative trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
57.09
-1.32 (-2.26%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg-2.26%
1 Week1.62%
2 Weeks-5.7%
1 Month7.43%
3 Month-17.34%
6 Month-39.29%
12 Month-49.67%
2 Year-51.78%
3 Year-57.65%
5 Year-95.2%
10 Year-98.5%
15 YearN/A
Volatility
ATR(14)3.38
ATR(20)%6.32%
ATR Inc-20.38%
Range Today3.31
ADR(20)3.39
ADR(20)%5.93%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS7.61
Mansfield-4.49
10 Day High60.16
10 Day Low53.14
20 Day High64.1
20 Day Low48.22
52 Week High152.6
52 Week Low32.55
CS1 End56.17
CR1 Start57.38
Volume & EV
DER(3)-0.22%
DER(5)1.21%
Volume1.34M
Volume Incr-26.53%
Vol(5)1.43M
Vol(50)1.96M