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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Peter V who wrote (37265)2/10/1999 7:07:00 PM
From: drsvelte  Read Replies (1) of 95453
 
Peter:
You are right, the lower BB is not the same as the 52 week low. The BBs reflect price variation over time and are measured (statistically) as standard deviations. The "wider" the BBs, the greater the price variability and vice versa.

Traders look for:

a "narrowing" of BBs that may signal a price move (up or down) may be imminent,

penetration above or below a band, which may signal a confirmation of the current trend.

Below is RIG's chart -- you can see how RIG "surfed" (Thean's term) the bands on up and down ramps.

Rig seems to have good support at 23.
207.95.154.130
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