The 15-minute chart for West Bancorporation has indicated a constriction of the Bollinger Bands as of August 23, 2024, at 15:15. This suggests a reduction in the volatility of the stock's price. Furthermore, the appearance of a Bearish Marubozu candlestick pattern signals that sellers are currently dominating the market. Such technical indicators imply that the downward momentum in the stock's price may persist.

West Bancorporation (WB), a regional financial institution based in the United States, experienced a notable contraction of its Bollinger Bands and the emergence of a bearish candlestick pattern on its 15-minute chart on August 23, 2024 [1]. This technical analysis indicates a reduction in the stock's price volatility and the dominance of sellers in the market.

The Bollinger Bands, a popular technical indicator, consist of a moving average and two standard deviations plotted above and below it. The bands widen during periods of high volatility and narrow during periods of low volatility. In the case of WB, the recent contraction suggests that the stock's price is exhibiting lower volatility than usual.

Additionally, the appearance of a bearish Marubozu candlestick pattern is a significant bearish signal. A Marubozu is a candlestick that forms when a security opens at a certain price, closes at a lower price, and has no upper or lower wicks. This pattern suggests a strong downward momentum and the potential for further declines in the stock's price [2].

The combination of these technical indicators implies that the downward momentum in WB's stock price may persist, potentially signaling further declines in the stock's value.

[1] Web Link: https://www.tradingview.com/symbols/NYSE-WB/
[2] Web Link: https://www.investopedia.com/terms/m/marubozu.asp