Price is over top Bollinger band at this time set on 80 verses 20. Price appears to be rising the upper band. Borderline overbought on daily, but not on weekly or monthly. When a security has a lot of momentum, some look at daily, weekly and monthly to determine overbought status. When price is over the top band on this setting, it is most likely also overbought on daily RSI. A security can ride the upper band for a while if the momentum wind is blowing behind it.
Price is closing in on long entry level. There could be some resistance there.
Golden cross several weeks ago which suggest a change in trend. The 50 SMA crossed up and through the 200 SMA. The 20 has crossed up and through the 50 as well which is bullish.
There is a pocket pivot below price. A pocket pivot serves as a "footprint" of big money buyers. Institutions buy within consolidation periods and during uptrends. This buying will leave behind a volume signature, and that volume signature is called a pocket pivot. The institutions are the real movers of the market.
No recommendation/I am Long, but I am watching overbought levels for possible pull back.
The outer Bollinger bands often coincide with Support and Resistance and are dynamic. They contract when price consolidates and expand when volatility increases. The normal setting is a 20 moving average with 2 standard deviations. For volatile stocks or securities, some use an 80 SMA. This setting also shows extremes in some cases. The bands also show overbought and oversold conditions. If price is under the bands, it is usually oversold.
You can think of Bollinger Bands like a rubber band.
Whenever the price gets too far away from it, it tends to mean revert back towards the middle band. This can take a while sometimes (o: You can ride a security that is outside the bands and do well, risky but it can be done successfully. Just keep an eye on other indicators or candles for a possible pull back.
Price is closing in on long entry level. There could be some resistance there.
Golden cross several weeks ago which suggest a change in trend. The 50 SMA crossed up and through the 200 SMA. The 20 has crossed up and through the 50 as well which is bullish.
There is a pocket pivot below price. A pocket pivot serves as a "footprint" of big money buyers. Institutions buy within consolidation periods and during uptrends. This buying will leave behind a volume signature, and that volume signature is called a pocket pivot. The institutions are the real movers of the market.
No recommendation/I am Long, but I am watching overbought levels for possible pull back.
The outer Bollinger bands often coincide with Support and Resistance and are dynamic. They contract when price consolidates and expand when volatility increases. The normal setting is a 20 moving average with 2 standard deviations. For volatile stocks or securities, some use an 80 SMA. This setting also shows extremes in some cases. The bands also show overbought and oversold conditions. If price is under the bands, it is usually oversold.
You can think of Bollinger Bands like a rubber band.
Whenever the price gets too far away from it, it tends to mean revert back towards the middle band. This can take a while sometimes (o: You can ride a security that is outside the bands and do well, risky but it can be done successfully. Just keep an eye on other indicators or candles for a possible pull back.