BNGO - CHART UPDATEBNGO: everything above 4.29 is bullish. GAP fill is still possible. Trading below 5.35 --> focus on gap fill. Trading above 5.60 --> Target 6 USD. 5.50 is our new support & a possible bounce zone. Very hard to give exact price targets in the daily trading of small caps with low volume. Therefore I only give fewer updates for BNGO. Otherwise it could confuse some people;)
BNGO trade ideas
BNGO - Where we going to?With the recent publication of Bionano in the book Cytogenomics, we can take a look on the graph.
Link -> twitter.com
We are in a critical point, but I think this news will be key to resist and pull up.
It will be interesting if we have a higher low on August 16 than on the 13th. If that news isn't transcendent with the price, the natural movement is going to close the flag.
If the news affects the price favorably I think we will go to test the 7$.
Wth the volatility that this stock has, I think that the Pre Market on Monday 16th will be very important as I think that it will move to a higher level.
They could put it at 7$ and during the week make it go down to close the GAP over 6$ and then start to go up.
Yellow Ascendent Line -> Hard Support that if it breaks it would be very dangerous
Red lines -> Possible bullish channels in which the price will be placed
Green lines -> Possible resistances that we will find and will be difficult to break
Good luck!
BNGO UPDATE important technical aspects:
The wedge formation is currently relevant for me. I'm not looking at more at the moment.
The following levels are important:
- H1 close above 6.20
- Trading above 5.49
- 6.50
If we break out to the downside, the wave (ii) in orange could reach a new low. That would be all ok as long as we stay above 4.29!
Focus is on the wedge formation. I’ll watch closely and will give an update if necessary.
will BNGOs chart history repeat itself here? lets see ! :) hello everyone, we have seen this BNGO chart do this exact same pattern earlier this year. higher low followed by downtrend breakout which sent us on a little bullish run. looks like another higher low is being made which shows bulls are still in control for now. the final confirmation we need is the downtrend channel breakout. very close... on watch for some share scalps. good luck! leave a like and follow for more ideas <3
I'm on the sideline looking for a tradeIt's technically still on an uptrend with consolidation. August tends to be a volatile month for biotech.
Trend(OBV) uses True Strength Index to analyze "On-Balance-Volume", which measures buying and selling pressure as a cumulative indicator.
Horizontal lines and zones are supports (entry for bulls and exit for bears) and resistances (exits for bulls and entries for bears).
Diagonal lines from Fib fans are for trend-determination and additional levels for active trading.
The market is actively moving so the entries and exits for this type of meme stocks constantly change. Trade small if you want to practice!
BNGO - Potential Bearish Reversal!Hello everyone, if you like the idea, do not forget to support with a like and follow.
BNGO is approaching strong daily support in green so we will be looking for buy setups.
Before we buy, we want the buyers to prove that they are taking over again.
You don't want to buy a bearish market right?
on H1: BNGO is forming a channel in red but our upper trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple)
Trigger => Waiting for that swing to form and then buy after a momentum candle close above it (gray zone)
Meanwhile, until the buy is activated, BNGO would be overall bearish can still trade lower.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich