The BioNano Genomics $Bionano Genomics(BNGO)$ stock price gained 4.20% on Monday, 3rd Jul 2023, rising from $0.610 to $0.636. During the last trading day the stock fluctuated 7.23% from a day low at $0.620 to a day high of $0.665. The price has fallen in 7 of the last 10 days and is down by -10.47% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 11 million shares were bought and sold for approximately $6.90 million.

The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $0.692 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -30.99% during the next 3 months and, with a 90% probability hold a price between $0.281 and $0.478 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.

BNGO Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, June 26, 2023, and so far it has risen 11.80%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The BioNano Genomics stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $0.683. On a fall, the stock will find some support from the short-term average at $0.602. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for BioNano Genomics stock

BioNano Genomics finds support from accumulated volume at $0.618 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0448 between high and low, or 7.23%. For the last week, the stock has had daily average volatility of 7.15%.

Trading Expectations (BNGO) For The Trading Day Of Wednesday 5th

For the trading day on Wednesday, 5th we expect BioNano Genomics Inc. to open at $0.640, and during the day (based on 14 day Average True Range), to move between $0.585 and $0.686, which gives a possible trading interval of +/-$0.0507 (+/-7.97%) up or down from last closing price. If BioNano Genomics Inc. takes out the full calculated possible swing range there will be an estimated 15.94% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.618 (2.74%) than the resistance at $0.735 (15.64%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Insiders are very positive buying more shares than they are selling in BioNano Genomics

In the last 100 trades there were 22.54 million shares bought and 788.26 thousand shares sold. The last trade was made 20 days ago by Mamuszka Hannah who bough 250 thousand shares. The large amount of stocks bought compared to stocks sold indicate that the insiders believe there is a potential good upside. In some cases larger purchases can be explained by due date for stock options.

Is BioNano Genomics Inc. stock A Buy?

BioNano Genomics holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.