TSN Big Picture – Bollinger Squeeze
- TSN is trending up.
- It had a complex pullback in the form of a falling wedge.
- Price broke out from the wedge and hit its measured target before drifting sideways. Hitting of a bullish target confirms the upwards trend.
TSN Small Picture – Bollinger Squeeze
- TSN caught our eye because its Bollinger Bandwidth is at its lowest in six months. This sets up a Bollinger Squeeze which finds low volatility stocks that might break-out soon.
- The sideways action is also a shallow bull flag.
(Learn: Bollinger Squeeze)
Bollinger Squeeze Trade Analysis
The overall trend is up. Hence, our bias for the break-out is bullish.
There are two possible entry methods.
- Enter when price close beyond Bollinger Bands according to Bollinger Squeeze setup
- Enter when price breaks out of bull flag