EchoStar Communications Corp

For today's chart we've chosen to take a look at EchoStar Communications (Nasdaq:DISH) because it is trading near the support of its 50-day moving average. The recent dip toward the moving average could represent a buying opportunity for the bulls like it did in late February and we'll now watch to see if the price can bounce back toward the 52-week high.

We've also added the Bollinger bands onto the chart because the price has crossed above the lower band. This move above the lower band is used as a common buy sign and many traders will now watch for a correction toward the upper band. The last time the Bollinger bands triggered this signal was on November 16, 2005, which also happens to correspond with the starting date of the prolonged uptrend.

For more see, Tales From the Trenches: A Simple Bollinger Band Strategy