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”.

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Bollinger Band Squeeze
Ticker symbol HPQ coming out of a Bollinger Band pinch


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”