Technology stocks have been on the move. Here is an interesting chart of Hewlett Packard Company “HPQ” that looks poised for upside momentum based on the “Bollinger Band Squeeze”.
Click the Image to see it bigger
The stock has been trading in a sideways channel since August, coming into a volatility squeeze. Yesterday the stock broke out above the upper Bollinger band.
With 5 months of sideways momentum building on the stock this looks like the classic set up of a “squeeze play”