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BNGO Potential long position around 12.00 support

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Bionano Genomics, Inc. (NASDAQ:BNGO)  
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NASDAQ:BNGO   Bionano Genomics, Inc.
Trend Analysis Technical Indicators support oversold
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trendanalysis indicator support oversold
BNGO broke below the 12.00 support today. Two possible scenarios now, the price further tanks but I would not expect it to dip below 10. I am personally expecting a bounce back after today's dip as:

  • Not much volume to justify downtrend strength
  • Stochastic shows oversold signal at support
  • RSI shows oversold signal at support
  • No strong downtrend indicator overall

But please keep in mind that the price already went up +2000% in the past 3 months, and that the pharma market took a little hit today.

Trade well!
Komen:
Overall market dip made things more doubtful for BNGO. Seems like the price dipped below 10 for a bit and is now sitting there. I would wait a bit before entering as the trend might go on.
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