$LAB Weekly Chart Is Flashing a Warning!!
On the weekly timeframe, $LAB has printed a massive wick, and from a technical perspective, that’s a sign of weakness.
As you can see on the chart, the long wick has created a significant imbalance.
In my experience, the market often revisits these imbalanced areas before establishing its next major trend.
That’s why I’m still maintaining my bearish outlook on $LAB.
My downside target remains $5, and I’ll continue watching the price action closely ...
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