DRX DLY S&P BIOTECH BULL 3X (LABU) Stock Technical Analysis
NYSEARCA:LABU - NYSE Arca - US25460G1206 - ETF - Currency: USD
Overall LABU gets a technical rating of 3 out of 10. In the past year, LABU was a below average performing stock in the market. The medium term picture is also negative, but we see some improvement happening in recent action.
Although the technical rating is bad, LABU does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 65.52. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 62.49, a Stop Loss order could be placed below this zone.
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60.67
When analyzing the support we notice one important area.
- A support zone ranging from 61.28 to 62.49. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
2 important resistance areas can be observed.
- A resistance zone ranging from 65.52 to 65.72. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @68.09 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 | 8.91 | NEGATIVE | LABU has a low relative strength, it was outperformed by 91.09% 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) | 50.36 | NEUTRAL | The RSI value for LABU is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.56 | NEGATIVE | The MACD value suggests LABU has a negative trend. |
| Stochastics (14,3) | 18.43 | OVERSOLD | The low Stochastics value suggests LABU may be oversold. |
| Average True Range in percent/ATR (20) | 6.67 | HIGH VOLATILITY | The high ATR as a percentage value for LABU suggests high volalility. |
| Average Directional Index/ADX (14) | 11.45 | NEGATIVE | The low ADX value for LABU suggests a weak or negative trend. |
62.5
+0.9 (+1.46%)