MWIP Chart w/ Bollinger Band explaination:....When the Upper & Lower Bollinger Bands converge it is signaling that a move is coming......the tighter the bands equals the tighter the trading.....
When a stock breaks out or breaks down the BB's get wide.....as a stock consolidates the bands get tighter.....
When the bands get super tight it's called a flex point & signals a move is imminent.......this works on intraday charts as well as the daily charts.......
On the MWIP chart posted checkout how the bands tightened heading into the 2nd week of Dec.....@ there tightest point on the chart, Dec. 10th, 11th MWIP broke out.....
When the share price peaked on the 17th & 18th the Bands got extremely wide......this reflects the giant move.....
When scanning stocks one of the set ups I look for are very tight BB's......they alway's signal a move is imminent......
The more difficult part is determining which direction the stock will move........$$$
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