LABU Stock Direxion Daily S&P Biotech Bull 3X ETF (LABU, $131.1) price moved above its 50-day Moving Average on October 18, 2024
Momentum Indicator for LABU turns positive, indicating new upward trend
LABU saw its Momentum Indicator move above the 0 level on October 15, 2024. This is an indication that the stock could be shifting in to a new upward move. Traders may want to consider buying the stock or buying call options. Tickeron's A.I.dvisor looked at 93 similar instances where the indicator turned positive. In of the 93 cases, the stock moved higher in the following days. The odds of a move higher are at .
Technical Analysis (Indicators)
Bullish Trend Analysis
The Moving Average Convergence Divergence (MACD) for LABU just turned positive on October 14, 2024. Looking at past instances where LABU's MACD turned positive, the stock continued to rise in of 43 cases over the following month. The odds of a continued upward trend are .
LABU moved above its 50-day moving average on October 18, 2024 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 315 cases, the price rose further within the following month. The odds of a continued upward trend are .
Bearish Trend Analysis
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 3 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
The 10-day moving average for LABU crossed bearishly below the 50-day moving average on October 01, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In of 18 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .
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 .
The Aroon Indicator for LABU entered a downward trend on October 18, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
General Information
Category Trading