Direxion Daily S&P Biotech Bear 3X Shares (LABD)

[Sendme]

Well, time to rethink things. LOL Gonna put the fibs to work this time. Looks like once the price makes it past a swing high/low it likes to tag the 1.618 fib retracement or extension. Also getting close to that top resistance line. Don't know if we will see a reversal, but a pullback would be expected.


I think it might be best to keep an eye on the weekly IBB chart. The moving averages are about to converge, so it should make a nice move, maybe this summer some time.



Shorter time charts show the price falling pretty far under the MA's