How the price action of Direxion Daily S&p Biotech Bear 3x ($LABD) is used to our Advantage
May 10, 2023, 15:00 pm ET, BY Momei- Contributor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for LABD
- Buy LABD slightly over 10.22 target 20.05 stop loss @ 10.19 Details
The technical summary data tells us to buy LABD near 10.22 with an upside target of 20.05. This data also tells us to set a stop loss @ 10.19 to protect against excessive loss in case the stock begins to move against the trade. 10.22 is the first level of support below 12.88 , and by rule, any test of support is a buy signal. In this case, support 10.22 is being tested, a buy signal would exist.
- Short LABD slightly under 20.05, target 10.22, stop loss @ 20.11 Details
The technical summary data is suggesting a short of LABD as it gets near 20.05 with a downside target of 10.22. We should have a stop loss in place at 20.11though. 20.05 is the first level of resistance above 12.88, and by rule, any test of resistance is a short signal. In this case, if resistance 20.05 is being tested, a short signal would exist.
Swing Trading Plans for LABD
- Buy LABD slightly over 14.42, target 20.05, Stop Loss @ 14.38 Details
If 14.42 begins to break higher, the technical summary data tells us to buy LABD just slightly over 14.42, with an upside target of 20.05. The data also tells us to set a stop loss @ 14.38 in case the stock turns against the trade. 14.42 is the first level of resistance above 12.88, and by rule, any break above resistance is a buy signal. In this case, 14.42, 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 LABD slightly near 14.42, target 12.63, Stop Loss @ 14.46. Details
The technical summary data is suggesting a short of LABD if it tests 14.42 with a downside target of 12.63. We should have a stop loss in place at 14.46 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, 14.42, 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 LABD
- Buy LABD slightly over 13.59, target 14.42, Stop Loss @ 13.56 Details
If 13.59 begins to break higher, the technical summary data tells us to buy LABD just slightly over 13.59, with an upside target of 14.42. The data also tells us to set a stop loss @ 13.56 in case the stock turns against the trade. 13.59 is the first level of resistance above 12.88, and by rule, any break above resistance is a buy signal. In this case, 13.59, 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 LABD slightly near 13.59, target 12.81, Stop Loss @ 13.62. Details
The technical summary data is suggesting a short of LABD if it tests 13.59 with a downside target of 12.81. We should have a stop loss in place at 13.62 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, 13.59, 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 Bear 3x (LABD) available here: LABD.
LABD Ratings for May 10:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Weak |
Weak |
Weak |
| P1 |
0 |
0 |
2.57 |
| P2 |
12.81 |
12.63 |
10.22 |
| P3 |
13.59 |
14.42 |
20.05 |
AI Generated Signals for LABD
Blue = Current Price
Red= Resistance
Green = Support
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Our job as #investors is to pay attention to the #stocks we own. Part of that involves looking at the #fundamentals, but half of the disclosure comes from looking at price action. The Direxion Daily S&p Biotech Bear 3x (NASDAQ: LABD) data table below can help you with price action, and we have more details too. Trading plans for LABD are shown here too; these plans are updated in real time for subscribers, where this report is static. If you want an update, or a report on a different stock, please get one here Unlimited Real Time Reports.
Fundamental Charts for LABD:
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