LABU 3X Leverage BIOTECHNOLOGY a potential Recession play

LABU a 3x leveraged EFT in the biotechnology sector has diverse holdings.

My thesis is that biotechnology and healthcare are relatively unhinged from the broader general market.

Here I chart LABU / QQQ ratio to determine relative strength.

On this weekly chart, the ratio and so relative strength are at more than a 52 week low.

The MACD indicator shows the MACD and signal line ascending and below the histogram.;
moreover the MACD in green is running above the signal line. This favors a trend reversal.

All in all, this seems to be a setup for a long swing trade or investment.

I will take a trade in a call option with a strike 50% higher than current price
as I see a potential for a large percentage gain for LABU. The diversity of the ETF
will serve to mitigate some of the risk. A stop loss will be 1% below current price
with an expectation of more than a 50 % return in the remainder of the calendar
year but far more in the case of the call option scenario