$LAB is attempting a recovery rotation after a sharp liquidation sweep, but momentum confirmation remains incomplete beneath major resistance.
Position: LONG only above 4.92–5.00 on confirmed reclaim strength.
Protective stop: 4.28.
Take profit levels: 5.38 / 5.92 / 6.48 / 7.20.
Momentum shifted aggressively after the flush below local structure, but buyers responded quickly with strong recovery candles from the EMA99 support region.
Conviction is improving short term, although price is still fighting for acceptance back above EMA25 after the failed breakdown event.
The current pullback remains constructive as long as higher intraday lows continue forming above the 4.40–4.50 support zone.
Market structure is transitioning from corrective to recovery mode, but full bullish continuation requires a clean reclaim of the 5.00 resistance cluster.
The violent downside wick near 3.00 likely marked temporary exhaustion from sellers, creating conditions for rotational upside expansion.
The setup becomes invalid if price loses 4.28 and starts accepting back below the EMA99 with expanding sell pressure.
⇢ Trade $LAB 👇
