ScanSource, Inc.
The price has recently bounced from the lower Bollinger Band and is heading towards the middle band (likely the 20-period simple moving average).
When price bounces from the lower band, it can signal a potential recovery or a short-term rally.
There is a noticeable gap up followed by consolidation near the upper band in the past.
The stock has recently been in a correction phase, pulling back from highs near $53 down to around $45, where it's now bouncing.
Based on the Bollinger Bands' behavior, the chart could be showing signs of consolidation after a downtrend.
If price moves above the middle Bollinger Band and sustains it, it could suggest a potential continuation of an uptrend.
Bullish Case: If the price breaks and holds above the middle band (around $48), it could attempt to test the upper band (~$52).
Bearish Case: Failure to break and sustain above the middle band may lead the price to retest the lower Bollinger Band (~$44), especially if broader market conditions remain weak.
