The Long Investor

$LABU - WATCHLIST -

Added 2024-06-04 00:06:55 +0000 UTC

It could be time for Biotech to start having its moment

Pull back since Feb has now completed 3 waves down, flushed down to the 0.78 Fib but quickly regained its 0.618 Fib and 200 Day MA and has now successfully flipped these levels to support and had a strong day today too.

Remember this broke out of the wedge in Nov '23 and ran perfectly to our First Target and then pulled back as expected.

A bounce from here and the First Target is back on the radar again and if this level can be tested, I believe the Second Target is in play then too

Also remember this is a 3 X leveraged bullish Biotech ETF, so it will have more volatility than others.....but we have seen on the $YINN chart that these ETFs can perform incredibly well.