BNGO - will it break out of bull pennant soon?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 ! :)