Biolase is in an interesting spot. They were recently awarded a 2023 best employer work place award and are about to announce their annual earnings in March. The Pre-audited numbers look good.
Separately from technical chart perspective it has a history of retesting prior cycle support. The left chart showcases prior monthly lows being retested. The current monthly lows range from $185-500. And at $.40 things are looking interesting. If it doesn't bounce at .40, I think we could see .18 at the low end.
There is risk. They are under review for NASDAQ compliance. Part of the reason its getting demolished right now.
Most analysts have BIOL at an average $9.50 and rate it as a strong buy.
This would be a long term swing trade buy and hold idea. Either to $9.50 or higher.
Not financial advice, just sharing thoughts on one of my favorites right now.
Separately from technical chart perspective it has a history of retesting prior cycle support. The left chart showcases prior monthly lows being retested. The current monthly lows range from $185-500. And at $.40 things are looking interesting. If it doesn't bounce at .40, I think we could see .18 at the low end.
There is risk. They are under review for NASDAQ compliance. Part of the reason its getting demolished right now.
Most analysts have BIOL at an average $9.50 and rate it as a strong buy.
This would be a long term swing trade buy and hold idea. Either to $9.50 or higher.
Not financial advice, just sharing thoughts on one of my favorites right now.