There are many technical indicators which can be used to gauge the trends. The “Bollinger bands” is one of the important tools which can be used for variety of purpose. The best use of Bollinger Bands is that it can be used to identify the trend. If the “Bollinger bands” is facing upward, it indicates an uptrend and if it is facing downward, it shows a downtrend. The strength of the trend can also be identified by the slope of the bands. The indicator is extensively used by the technical analysts to generate stock future tips.
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