BNGO hit a high of 13.85 before it began to cool off and since then has been consolidating within a bull pennant. It is now near the apex of the pennant which means a breakout could happen by next week.
Long the breakup as it goes above 12.36 with initial stop loss slightly below 11.10. Swing traders can consider to scale out between 16.50-18.00 (168% and 200% fib extension of the bull pennant respectively). Or ride for the longer term with trailing stop loss.
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you. Feel free to give me your thoughts ! :)
Long the breakup as it goes above 12.36 with initial stop loss slightly below 11.10. Swing traders can consider to scale out between 16.50-18.00 (168% and 200% fib extension of the bull pennant respectively). Or ride for the longer term with trailing stop loss.
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you. Feel free to give me your thoughts ! :)
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.
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.