BNGO trade ideas
BNGO UPDATEBNGO remains strong. Today bngo took a little breath and touched exactly my 0.5 retracement to gain strength afterwards. A daily close above 6.20 was important to me. The chart forms a nice trend and points in the right direction. The following targets are relevant for me:
- 6.35 small resistance
- Then 6.50 to reach my between target at 7.00.
- 7.46 is my main target. Strong resistance is to be expected there. But the chart is on the right way;)
H4:
$BNGO Update, Near 7$ TargetBNGO showed a solid reversal out of its downward channel towards 6$ for confirmation that it was finished going lower, and shows a continued strength for a move towards 7$, its 23% retracement level from high to low. If traders and the market want to bring this higher, my next target would be near 8$ or a 38% retracement. More of an in and out trade for me, but judge it how you want and use the Fibonacci as areas to trim your position.
$BNGO Update, Clean Bullish Green Candle for Reversal I believed BNGO was a buy near 5$, and today is it showing very strong momentum towards the upside approaching my first $7 target, insider activity has also been very heavy within the past week, and i expect to see this trading much higher in the coming months with this breakout.
BNGO - Buy Setup Forming - Wait For It!Hello everyone, if you like the idea, do not forget to support with a like and follow.
BNGO is sitting around strong support in green so we will be looking for buy setups.
Before we buy, we want the buyers to prove that they are taking over again. You don't want to buy a bearish market right?
on H1: BNGO is forming a channel in red but our upper trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple)
Trigger => Waiting for that swing to form and then buy after a momentum candle close above it (gray zone)
Meanwhile, until the buy is activated, BNGO would be overall bearish can still trade lower.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
BNGO BUY/LONG 4.40 to 19.50 by end 2021 TICKER CODE: BNGO
Company Name: Bionano Genomics, Inc.
Industry: Healthcare | Biotechnology | USA
Position Proposed: BUY
Technical Analysis
1. Falling Wedge / Pennant (Forming)
2. Fibonacci Retracement at 0.786 ( Silver Zone)
3. RSI Reached OVERSOLD
4. 1st Take Profit will be at Fibonacci Expansion Safe Take Profit and Flagpole Length
Entry: NOW READY (4.40)
1st Partial Take Profit: 19.50 (August-November 2021)
2nd Take Profit: 29.00 (Mid 2022)
I was there Gandalf... 3000 years ago when BNGO was 50 cents..So when BNGO was 50 cents I realized that it was doing a silent accumulation and with a name like Bionano Geonomics, how could I go wrong I thought?
well, selling at 55 cents is how I went wrong. i thought i was slick with my couple percent profit. selling in the bear trap.
As always, BNGO is being shorted, and was accumulated by none other than Cathy Wood.
I think we are due for a breakout, but I wouldn't count on it. shorts are fierce and its in mark down phase. i would say expect to see 3$, even 2$ some day before the next crazy climbs but who knows you could get lucky! someone could come along and be like BINGO!
Long targets on this in the 60-100$ range as this was the first accumulation, I would say this is a Bear trap on the very large scale. (5 years or 10 years) expect BNGO to be around for some time. not sure exactly how long, but long.
Short target: 2$
Medium target 7$
Long target 60$