Objective long/short (LABU) Report

October 26, 2024, 10:04 am ET, BY Jolene W.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for LABU

• Buy LABU near 109.51 target 135.67 stop loss @ 109.19 Details

The technical summary data tells us to buy LABU near 109.51 with an upside target of 135.67. This data also tells us to set a stop loss @ 109.19 to protect against excessive loss in case the stock begins to move against the trade. 109.51 is the first level of support below 120.47 , and by rule, any test of support is a buy signal. In this case, support 109.51 would be being tested, so a buy signal would exist.

• Short LABU slightly under 135.67, target 109.51, stop loss @ 136.06 Details

The technical summary data is suggesting a short of LABU as it gets near 135.67 with a downside target of 109.51. We should have a stop loss in place at 136.06though. 135.67 is the first level of resistance above 120.47, and by rule, any test of resistance is a short signal. In this case, if resistance 135.67 is being tested, so a short signal would exist.

Swing Trading Plans for LABU

• Buy LABU slightly over 131.53, target 135.67, Stop Loss @ 131.15 Details

If 131.53 begins to break higher, the technical summary data tells us to buy LABU just slightly over 131.53, with an upside target of 135.67. The data also tells us to set a stop loss @ 131.15 in case the stock turns against the trade. 131.53 is the first level of resistance above 120.47, and by rule, any break above resistance is a buy signal. In this case, 131.53, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short LABU slightly near 131.53, target 119.73, Stop Loss @ 131.91. Details

The technical summary data is suggesting a short of LABU if it tests 131.53 with a downside target of 119.73. We should have a stop loss in place at 131.91 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 131.53, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for LABU

• Buy LABU slightly over 131.53, target 135.67, Stop Loss @ 131.22 Details

If 131.53 begins to break higher, the technical summary data tells us to buy LABU just slightly over 131.53, with an upside target of 135.67. The data also tells us to set a stop loss @ 131.22 in case the stock turns against the trade. 131.53 is the first level of resistance above 120.47, and by rule, any break above resistance is a buy signal. In this case, 131.53, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short LABU slightly near 131.53, target 120.19, Stop Loss @ 131.84. Details

The technical summary data is suggesting a short of LABU if it tests 131.53 with a downside target of 120.19. We should have a stop loss in place at 131.84 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 131.53, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Check the time stamp on this data. Updated AI-Generated Signals for Direxion Daily S&p Biotech Bull 3x Shares (LABU) available here: LABU.

LABU Ratings for October 26:

Term →	Near	Mid	Long
Rating	Weak	Neutral	Strong
P1	0	0	109.51
P2	115.41	119.73	135.67
P3	120.19	131.53	164.54

AI Generated Signals for LABU

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This report was produced using AI developed by Stock Traders Daily.  Over the past 20 years this proprietary AI has been refined to help identify the most opportune trading strategies for both individual stocks and the stock markets themselves.  This methodology is also applied to Index options, ETFs, and futures.  The objective of this specific report is to optimize trading in Direxion Daily S&p Biotech Bull 3x Shares (NASDAQ: LABU) while incorporating prudent risk controls.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for LABU change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

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Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if LABU is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for LABU too.  All of these are offered below the Summary Table.