^&* 17. Bollinger Bands (LO4, CFA1) From the data below for Apple (AAPL) stock, calculate the upper and lower Bollinger bands, which represent plus (or minus) two standard deviations of the 20-day simple moving average added (subtracted) from the 20-day simple moving average. If the daily price approaches or exceeds the upper Bollinger band, traders will look for a continued upward movement in the stock price. Graph the 20-day simple moving average, the upper and lower Bollinger bands, and the price of AAPL stock. Does the graph tell you that traders expect continued strength or weakness in the price of AAPL stock?

Date AAPL Close 20-Day Simple Moving Average Standard Deviation of 20-Day Moving Average Lower Bollinger Band Upper Bollinger Band 3/26/2019 186.79 180.88 3.40 3/27/2019 188.47 181.50 3.60 3/28/2019 188.72 182.18 3.80 3/29/2019 189.95 182.96 4.00 4/1/2019 191.24 183.71 4.20 4/2/2019 194.02 184.48 4.39 4/3/2019 195.35 185.40 4.57 4/4/2019 195.69 186.45 4.72 4/5/2019 197.00 187.61 4.86 4/8/2019 200.10 188.81 4.99 4/9/2019 199.50 189.87 5.10 4/10/2019 200.62 190.80 5.19 4/11/2019 198.95 191.74 5.25 4/12/2019 198.87 192.51 5.27