BioNano Genomics Stock Forecast
Stronger technical forecast for BioNano Genomics stock price after Tuesday trading.
(Updated on Apr 23, 2024)
The BioNano Genomics stock price gained 4.44% on the last trading day (Tuesday, 23rd Apr 2024), rising from $0.761 to $0.794. During the last trading day the stock fluctuated 5.19% from a day low at $0.770 to a day high of $0.81. The price has fallen in 8 of the last 10 days and is down by -24.34% for this period. Volume fell on the last day by -50 thousand shares and in total, 817 thousand shares were bought and sold for approximately $648.71 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.738 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -26.55% during the next 3 months and, with a 90% probability hold a price between $0.542 and $0.778 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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BNGO Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 5.92%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The BioNano Genomics stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.80 and $1.01. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for BioNano Genomics stock
BioNano Genomics finds support from accumulated volume at $0.787 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with periodic low trading volume this stock is considered to be "very high risk". During the last day, the stock moved $0.0400 between high and low, or 5.19%. For the last week the stock has had daily average volatility of 9.32%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BNGO) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect BioNano Genomics Inc. to open at $0.791, and during the day (based on 14 day Average True Range), to move between $0.715 and $0.87, which gives a possible trading interval of +/-$0.0797 (+/-10.03%) up or down from last closing price. If BioNano Genomics Inc. takes out the full calculated possible swing range there will be an estimated 20.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.787 (0.91%) than the resistance at $0.87 (9.52%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is BioNano Genomics Inc. stock A Buy?
BioNano Genomics holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -4.416 Sell Candidate Upgraded
Predicted Opening Price for BioNano Genomics Inc. of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $0.791 ( 0.369%) | $0.794 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BNGO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.83 | 4.67 % | |
| R2 | 0.82 | 2.74 % | ||
| R1 | 0.81 | 1.55 % | ||
| Current price: | 0.794 | |||
| Support | S1 | 0.776 | -2.29 % | |
| S2 | 0.767 | -3.48 % | ||
| S3 | 0.751 | -5.40 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.99 | 24.18 % | |
| R2 | 0.98 | 23.05 % | ||
| R1 | 0.87 | 9.52 % | ||
| Current price | 0.794 | |||
| Support | S1 | 0.787 | -0.91% | |
| S2 | 0.761 | -4.25% | ||
| S3 | 0.750 | -5.59% |
FAQ
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