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Ginkgo Bioworks Stock Price Prediction: Is DNA Stock Ready To Untangle For $4?

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Ginkgo Bioworks Stock Price
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  • 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

Source: TradingView

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

Disclaimer: The author’s views and those of any individuals mentioned in this post are for informative purposes only and should not be regarded as financial, investment, or other advice. There is a chance of suffering a monetary loss while buying or selling any asset.

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