$BIO has been in a basing pattern since its low in early May.
Finally identifying a “Go” trend earlier this month, the medical equipment company is trying to break above the resistance from the gap earlier in the chart. GoNoGo Oscillator got above the zero line late June and has since confirmed positive momentum by finding support at the zero line. With volume picking up, we will look to see if this resurgent momentum will give price the push it needs to get above resistance and set a new higher high. Traditional technical analysis tells us that the gap would likely be filled so a target could be set around $458.
