Earlier last month I provided an analysis for BNGO stating that she looked ready for a strong move up. We can expect resistance at the previous high set in the low teens, and if this resistance breaks, we can expect a sky high breakout with not much resistance above the low to mid teens. A measured move of continuation up from the previous wave up from roughly .50 to the low teens gives us about $60 (60% of the total initial move by percentage). The key here is to watch for rsi and macd bearish divergence as it moves through its breakout towards $20 and higher if that occurs. The divergence indicators on lower time frames (1 day and 4 hour charts for example depending on how quickly it moves) will be the strongest indicator we can use to take profits and scout an exit point.
