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What's your favorite technical analysis tool and why do you like it?
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Dr_Stock joined discussion · Feb 2, 2023 22:11

Bollinger Bands

I used the bollinger bands in my video!
Bollinger bands are incredible for identifying times of consolidation and moments of extreme price movements. Watching a security’s price, such as $Invesco QQQ Trust(QQQ.US)$ today, break 2 standard deviations above the mean puts the price action in unusual territory. The law of large numbers suggests that values will tend towards the mean. So, we can take the bollinger bands and combine that with the extended run up, and an RSI over 70, is compelling evidence to suggest a selloff in Friday’s market with many positions cashing out their profits prior to the trading week’s close.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only. Read more
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Dr_Stock
Doctor of Education, long-term investor, & stock trading enthusiast researching the markets and making decisions.
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