Thursday, April 24, 2014 5:06:09 PM
Bollinger Band Width, the width metric here ( shown in trend line format below) has been completely beat down. Now it's starting to move UP. That signals a bigger price move coming. Which way? Well, given the RSI and Stochastics are completely beat down, it's obviously much more likely to be to the upside. So we've got clear indicators SKTO is oversold, we've got a clear indicator that a PRICE MOVE is coming ( BB width starting to turn) , we've got the lower BB colliding with the 200dma, and we've got a doji like candle ( means change) occurring on two key supports ( the 200 dma, and the lower BB) . This s about as classic a set UP as the chart makes.
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