braydenboyko

BNGO Gaps, Where Will It Stop?

NASDAQ:BNGO   Bionano Genomics, Inc
NASDAQ:BNGO

Well here we are...In my previous articles I have discussed the long term outlook and the short term outlook of BNGO . For the short term I have been right thus far. I want to talk about a few key factors in the last few days. Many investors have noticed price manipulation in stocks, BNGO included. There is a government investigation going on regarding it. Many investors are calling for the removal of Erik Holmlin. The RSI Indicator suggests that BNGO is oversold coming in at 28.57 today. It has been oversold since November 22, 2021. When looking at the supertrend of EMA50 we can see the huge gap in current price to 50 term average. An even larger gap is found on the 100EMA. For the 50 EMA I suggest we would need to see a 34% increase in share price to confirm a reversal, this is in the short term. This number may come down with a few green days.

I believe we need a week of majority green to hold the current range of $3.44 - $4.29 Range.
If we see a red week starting Monday I believe we will fall into the $2.57 - $3.44 range.

Knowing how fast this stock can fall, we could have some low levels as indicated by the levels above. I worry for the short term price of this stock, will the company be able to sustain such low earnings and exposure?

Current Options Positions
Short Calls - Strike 5.00 @ 1.21, 21-01-2022
Long Puts - Strike 2.00 @ 0.05, 21-01-2022
Short Calls - Strike 6.00 @0.21, 21-01-2022

Current Stock Positions
@5.97
@4.00
@3.69
Average Price: 4.3425

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.