DNA had massive bearish selloff and is trading at very low price just above HKEX:1 area. Between current lows and ATH, we can anticipate a decent rally before resuming a larger move lower (if that would happen in future). At these lows its great price range to accumulate and build a position using risk management and DCA strategy. It's been trading back it forth...
It is true this has been on a down trend but could it be is time to break out? After the bad earnings I expected this to go to the bottom of the channel but it stopped at support and bounce. This is a long play but may be time to get in. After all Vanguard and ARK have been loading.
hi traders
We can see a potential double bottom pattern on the weekly time frame.
The price is still at the potential bottom and it's easy to strategize the trade here.
Entry, target, take profit and stop loss are shown on the chart.
If the key support fails, it would be an invalidation of the double bottom formation and the long positions should be closed.
Daily chart, the stock rebounded from the support line S, and should target the falling Resistance line R at around 2.55
Crossing resistance and trading above 2.55 for 2 days, the target will be 2.30 extending to 2.47
Technical indicator RSI is in the BUY area.
Price is consolidation in what it appears to be an ascending triangle. I think it needs some more work to do but I opened a long position bc you never know with penny stocks. They can just blow up in hours so I don't want miss it.
Possible trend reversal. Strong support. Accumulation from the bottom range. Possible gartley in play. Even if the validity fails it works as a well indicator which decides my range.
Small TF downtrend possible to the 1.20 support untill breaking trend. I am still learning, open for feedback.
Regards!
If you haven`t bought DNA here:
Then analyzing the options chain and the chart patterns of DNA Ginkgo Bioworks Holdings prior to the earnings report this week,
I would consider purchasing the $2.50 strike price Calls with
an expiration date of 2023-12-15,
for a premium of approximately $0.32.
If these options prove to be profitable prior to the earnings release,...
In the coming weeks it looks like a Head and Shoulders will form. Looking to exit around $1.98 if this holds true and then re-enter along the $1.30s where strong support appears.
A pretty compelling argument for a classic Wyckoff Accumulation pattern. We know some people like Woods are investing heavily into this market, so it's not a long shot to assume there are others. Whether we see a spring or LPS our way up to SOS is TBD, we could shoot in either direction as it stands. PTs are at $7-$15 according to analysts. This seems to line up...
It`s in our DNA to create reliable and objective analysis for our dear followers, and we will continue doing so.
We can see a falling wedge occurring on this chart, and we therefore expect a move to the upside.
Also the RSI has shown bullish divergence lately.
We will wait for a breakout of the trend, to take our long position.
More details are shown on the chart.
DNA Ginkgo Bioworks Holdings is close to all time low on the lower end of a Falling Wedge.
I think it`s primed for an imminent breakout.
ARK Invest keeps buying it at this level.
Looking at the DNA Ginkgo Bioworks Holdings options, I would buy the $2 strike price Calls with
2023-3-17 expiration date for about
$0.20 premium.
DNA Ginkgo Bioworks Holdings is one...
