MNM and Bollinger bandsI want you to take a look at something, ladies and gentlemen... Here I have a stock chart with Magellan Minerals. OK! Everything`s looking good. The MACD is looking good, and the RSI says it`s not overbought .
But wait! Today we broke WAY over the bollinger bands (the red line) . Typically, stocks (and esepcially commodities) trade inside the bollinger bands most of the time. How often? A lot often !
So sometimes day traders like to take profits if something is over the bollinger bands... or something to that effect... In any case, I am LONG on Magellan Minerals, have made good profit on this stock, and I think it`s a good stock to hold onto!
Okay I do own Magellan Minerals. I am not a certified securities professional, and I am not qualified to make a recommendation. I am not making a recommendation.
