LABU Direxion Daily S&P Biotech Bull 3X ETF Forecast, Technical & Fundamental Analysis
LABU sees its Stochastic Oscillator ascends from oversold territory
On June 02, 2023, the Stochastic Oscillator for LABU moved out of oversold territory and this could be a bullish sign for the stock. Traders may want to buy the stock or buy call options. Tickeron's A.I.dvisor looked at 71 instances where the indicator left the oversold zone. In of the 71 cases the stock moved higher in the following days. This puts the odds of a move higher at over .
Technical Analysis (Indicators)
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on June 02, 2023. You may want to consider a long position or call options on LABU as a result. In of 102 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
LABU moved above its 50-day moving average on May 03, 2023 date and that indicates a change from a downward trend to an upward trend.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where LABU advanced for three days, in of 302 cases, the price rose further within the following month. The odds of a continued upward trend are .
LABU may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
The Aroon Indicator entered an Uptrend today. In of 214 cases where LABU Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
Bearish Trend Analysis
The 10-day RSI Indicator for LABU moved out of overbought territory on May 11, 2023. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 25 similar instances where the indicator moved out of overbought territory. In of the 25 cases, the stock moved lower in the following days. This puts the odds of a move lower at .
The Moving Average Convergence Divergence Histogram (MACD) for LABU turned negative on May 24, 2023. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 40 similar instances when the indicator turned negative. In of the 40 cases the stock turned lower in the days that followed. This puts the odds of success at .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where LABU declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
Fundamental Analysis (Ratings)
Notable companies
Industry description
Market Cap
High and low price notable news
Volume
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
General Information
Category Trading
| 1 Day | |||
|---|---|---|---|
| MFs / NAME | Price $ | Chg $ | Chg % |
| CBMIX | 37.98 | N/A | N/A |
| Allspring C&B Mid Cap Value Admin | |||
| RWIGX | 56.09 | N/A | N/A |
| American Funds Capital World Gr&Inc R6 | |||
| TEMGX | 8.67 | N/A | N/A |
| Templeton Global Smaller Comp A | |||
| HEIIX | 13.69 | N/A | N/A |
| Hennessy Equity and Income Institutional | |||
| MSFAX | 32.59 | N/A | N/A |
| Morgan Stanley Inst Global Franchise I | |||
LABU and
Correlation & Price change
A.I.dvisor indicates that over the last year, LABU has been loosely correlated with SSO. These tickers have moved in lockstep 65% of the time. This A.I.-generated data suggests there is some statistical probability that if LABU jumps, then SSO could also see price increases.
| Ticker / NAME | Correlation To LABU | 1D Price Change % | ||
|---|---|---|---|---|
| LABU | 100% | +1.19% | ||
| SSO - LABU | 65% Loosely correlated | -0.46% | ||
| SPXL - LABU | 65% Loosely correlated | -0.64% | ||
| QLD - LABU | 64% Loosely correlated | +0.10% | ||
| TQQQ - LABU | 64% Loosely correlated | +0.22% | ||
| SOXL - LABU | 54% Loosely correlated | -4.77% |