BNGO Technical Analysis - BIONANO GENOMICS INC

Technical Rating and Analysis

We assign a technical rating of 1 out of 10 to BNGO. BNGO's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.

The short term trend is negative, as is the long term trend. There should be more interesting stocks out there.

99% of all other stocks performed better in the past year than BNGO.

BNGO is one of the lesser performing stocks in the Life Sciences Tools & Services industry. 87% of 57 stocks in the same industry do better.

BNGO is currently trading near the lower end of its 52 week range, which is not a good sign. Certainly not because the S&P500 Index is trading near new 52 week highs at the moment.

In the last month BNGO has a been trading in the 1.63 - 2.15 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

Considerably lower volume is observed in the last couple of days.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

BIONANO GENOMICS INC / BNGO Weekly stock chart

BIONANO GENOMICS INC / BNGO Daily stock chart

Setup Rating and Analysis

BNGO has a bad technical rating, but it does show a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is very little resistance above the current price. There is a support zone below the current price at 1.90, a Stop Loss order could be placed below this zone.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

1.87

4.87

When analyzing the support we notice one important area.

A support zone ranging from 1.89 to 1.90. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.

When analyzing the resistance we notice 2 important areas.

Resistance @2.14 from a horizontal line in the daily time frame.
Resistance @4.82 from a horizontal line in the daily time frame.

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What is Support and Resistance

Support and Resistance indicators

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Technical Indicator Signal Analysis

The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.

Indicator	Value	Signal	Comment
ChartMill Long Term Trend Indicator	DOWN	NEGATIVE	The long term trend for BNGO is down.
ChartMill Short Term Trend Indicator	DOWN	NEGATIVE	The short term trend for BNGO is down.
ChartMill Relative Strength	1.39	NEGATIVE	BNGO has a low relative strength, it was outperformed by 98.61% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of BNGO is above the rising SMA(20).
Simple Moving Average/SMA (50)	DOWN	NEGATIVE	The current price of BNGO is below a declining SMA(50).
Simple Moving Average/SMA (200)	DOWN	NEGATIVE	The current price of BNGO is below a declining SMA(200).
Relative Strength Index/RSI (14)	42.66	NEUTRAL	The RSI value for BNGO is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.07	POSITIVE	The MACD value suggests BNGO has a positive trend, although the MACD value is declining.
Stochastics (14,3)	60.07	NEUTRAL	The Stochastics value for BNGO is a neutral value.
Average True Range in percent/ATR (20)	6.24	HIGH VOLATILITY	The high ATR as a percentage value for BNGO suggests high volalility.
Average Directional Index/ADX (14)	20.46	NEUTRAL	The ADX value for BNGO suggests a possible start of a new trend.