$LABU - RC -
Added 2023-08-08 13:05:01 +0000 UTCNeeds to find support very quickly, like the chart says, 'Needs to hold above this line' at $4.
Working its way down the Fib levels below the standard 0.618 Fib right now.
This is a leveraged 3 X ETF so any standard pull back in the Biotech market will be multiplied by 3 X here, so caution is always advised.
Large wedge encompasses this set up and for now, it is holding its structure but it needs to find support soon.....we can see that the price rejected at the 50 and 200 Day MA's, so it is likely the cause of the decline since June.
