Bollinger Band help.. what would you do based on this chart?

Yasir

Yasir

Trying to get comfortable with Bollinger Bands. Is that how I should be treating them in my analysis? Please provide you comments as to what would your move be from here?

It doesn't matter if one is wrong, just want to absorb the thought process here

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I see it making a megaphone price pattern which I have always shied away for trend trades till it make a move one way or other. Can always buy lower BB and sell higher BB, but there is a limit cause you know the last one will be a loser. I would wait and see if it makes 50-60% pullback to shake out those who got long at highs, also often times spikes in volume, price tends to pullback, and risk would certainly be cheaper.
 

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How about when you look at the same thing in Weekly??
Put the MACD in there this time...
 

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I’m new to the site as well. I’m still learning but this is what I see. I’ve noticed with BB most of the time when the stock moves out side of the bands the trend seems to reverse. You can see that on the chart you posted. The 64.54 is showing strong resistance looks like it held 3 or 4 times. Along with BB the RSI is pointing down and the STO has crossed over indicating a trend change. The candle sticks are showing a reversal as well. The first red candle opened high and closed below the previous day, the second red candle opened and close below the previous day, then the last green candle the bulls tried to take charge but couldn’t get above resistance. I see the stock rolling over to the next support level. I would buy puts or a bear calls if it doesn’t close above resistance the next day.
 
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