Dish-Handle Formation
Analyzing the BIO chart, we see that a large cup pattern followed by a handle formation has now become much clearer. BIO is currently trading at around $0.1532, holding above the lower boundary of the handle area at around the level $0.13. This suggests that the pattern is still valid.The handle of the formation is forming between the levels $0.13 and $0.18. Holding within this range supports the possibility of an upward breakout. The key resistance level to follow is $0.1874. A daily close above this point would confirm the breakout of the handle and could speed up the trend.According to a bullish scenario, the first target is $0.23, followed by a strong resistance zone between $0.26–$0.30. If this area gets broken, the technical target of the pattern becomes $0.45, with a longer-term potential move toward $0.61.On the other hand, the range between the levels $0.13 and $0.14 stands as the most important support area below. If this level is lost, the handle formation would be invalidated, and the price could drop toward $0.11.
