$BNGO is in my list of biotech/genome stocks
It popped yesterday. Had some SEC pressure, I think I heard.
It is showing the new pattern I coined "chicken beak" that keeps breaking out in other stocks in the same category.
Picked up 100 commons while it was low yesterday and it went to boom town. Looking for a continuation.
Swing trading this one.
After recent pull back in BNGO , hourly chart showed pocket pivot on 8th Jan ( see highlighted bar in yellow ) , next day it gapped up ...
Today last hour bar shows pocket pivot again ... I am guessing a gap up or go up further ...
Warning
This is not a financial advise ... Please do your own research for trading decission
Price retraced to the 0.618 fib (C) from B. A pennant flag is being formed. Looks like a breakout on the upside is about to happen in the next couple of days if it remains above the lower pennant trendline.
As a lot of people here know, Cathie Wood, CEO of Ark Investments, has been waiting to invest in BNGO. Tomorrow is the Nasdaq Compliance date. This means Cathie Wood and various institutions can finally invest in the stock. I got a pretty large position around $4.5, and I'm not selling below $10-$12.
$BNGO can go ahead and hit $10 real quick.
Your comments are welcome.
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Legal disclaimer: I am not a financial advisor. The advice here given is not a financial advice even though my excitement might make it look like such. This account shouldn't be followed by anyone expecting something from me. You trade at your own risk and nobody can guarantee...
This is a speculative play in the Genomics industry. The technology has great promise and getting a lot of hype and recognition recently.
The risk is that they are not FDA approved and the company has cash issues. There may be a stock offering in the near future that will result in a stock price dip (-15 to 20%?) but it is only going to be even more bullish after...
$3.90 (61.8% Fibonacci) is the critical support level the Bulls have to defend.
The Bears broke our first line of support level today at $4.54 (50% Fibonacci)
and $4.54 is now the resistance that the Bulls have to break in order to bring the price higher.
Good luck trading and May the Force be with You.
In this chart I've just outlined area of importance to this stock, possible levels it may make a decision; to pause before going up if down. I'm in this at 5.30 I could see this stock retracing it's highs and maybe pass them with increased volume from the meetings they are holding from 11-15. I'm not in this long just a 1-5 day swing. This could be a meme worthy stock.
look for a rejection off all time highs as expected here, shorts have to eat and people have to take profits. look for some downside in the short term and dip entry around 3 again, goodluck! :) in the short term and dip entry around 3 again, goodluck! :)
$6.24 is very strong and important support watch it. $7.18 is really strong resistance so we need to break above that to see $8 and then believe that support will be really strong. this stock is nuts and has a lot of good events coming up. good luck and happy trading I hope some people become millionaires off this.
sometimes, very rarely (this is a high risk and historically LOW REWARD industry), the stars align for a company at a crossroads on it's way to changing the world. it's not a question of if i'm buying the open with this stock, it's how much do i buy and how frequently do i keep buying? no lines needed, if you liked it at $9 you should adore it at $3.
