- Ginkgo Bioworks has recently announced that they have expanded their support to monitor influenza.
- Technical indicators of DNA stock suggests a strong upside move.It is trading near the value of $2
Ginkgo Bioworks Holdings is a biotechnology company that specializes in using synthetic biology to create sustainable products and materials. The company’s technology platform is based on the manipulation of DNA in order to create organisms that can produce a wide range of desired products, such as fragrances, flavors, and even medicines.One of the key areas of focus for Ginkgo Bioworks is the production of biofuels. The company has developed a process to create biofuels from engineered organisms that can convert plant sugars into fuel. This process is more sustainable than traditional biofuel production methods, as it does not require the use of food crops or land dedicated to growing fuel.
DNA has a market cap of $3.9 Billion and has a negative EPS. Various analysts are expecting a strong growth in the future.
Technical Indicators Are Favoring A Strong Growth
The weekly technical chart of the DNA stock suggests a weak upside move. On the daily chart it is trading near the value of $2 with a gain of 0.25%.It is trading in an upside parallel channel. Resistance of the DNA can be seen near $3.5. Meanwhile the support of DNA can be seen near $1.25. It is trading above the 50 and below 100 DMA. It can see a strong positive crossover which can see a strong upside trend. Various analysts are expecting growth in the future.
Conclusion
Ginkgo Bioworks has recently announced that they have expanded their support for testing viruses. DNA stock price can see a strong upside momentum.
Technical Indicators
Major Resistance:$1.5
Major Support:$2.5
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Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.