czarly

Bollinger bands play possible

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NASDAQ:META   Meta Platforms
The price still moves sideways for 2 months now and the last two lows are confirmed by the momentum lows in the MACD indicator. The ADX indicator is below 20 and therefore stays in the sideway zone which means that the bollinger bands tend to limit the movement of the price in every direction. Odds favor a continuation of the sideway movement and the last high is also the upper bollinger band which gives the opportunity of a tight short entry with stop loss slightly above the bollinger band and a target at the lower bollinger band and a risk / reward ratio of more than 3.

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