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

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I like the fact that it put in a couple of candles above the trend line, but it needs to break 5.26 now to get any momentum. Would also like to see the 20 and 50 MA continue to act as support.



I think I will start taking profits if the xbi gets under 81. XBI needs to break that double bottom at 82.80ish
This would be a 1:2 risk vs reward target for traders shorting the XBI

Here is a little more breakdown

LABD vs the cloud right now. Let's see if it can break out