Technology watch is a methodology for organisations to systematically analyze technical information in a continuous way in order to gain insight and competitive advantage in a specific technical domain and is based mainly on statistical analysis of patent information. Patent statistics are commonly based on bibliographic data and generated with bibliometric techniques. In this paper we describe the differences between patent bibliometrics and classic bibliometrics and propose several patent indicators for technology watch activities which we classified into four categories: performance, technology, patent value and collaboration indicators. In a case study we undertook a bibliometric patent analysis using the described groups of indicators in order to generate a technology watch of nanotechnology for the domain of a whole country (Spain) and explained the different data visualizations we used in order to represent the indicators. We conclude that statistical analysis of patent information and its visualization is a powerful methodology for any competitive intelligence activity centred on technology but there are also some limitations to bear in mind when undertaking technology watch activities using patent information discussed in terms of its timeliness, patentability criteria, sector dependence, quantity vs. quality.