S&P Biotech ETF (LABU) Analysis – 04Sep2020

S&P Biotech ETF (LABU) has been one of our best performing ETFs this year.  The recent correction in S&P500 and Nasdaq100 indices has impacted LABU too. It was a strong short-term buy today between 40-43 for target 46-49, where selling pressure will come again. We should get 47-48 levels, which would give about 15% gain in 2-3 days.

LABU is a buy on all corrections for upside targets of 60-70 in the coming months. If we get prices between 25-30, that will be a strong buy signal.