Bullish pennant in an uptrend. Awaiting breakout.
After a month-long rally from 19 April 2020 to 15 March 2020, Bharti Airtel taking an 8-day breather and likely to continue higher.
Pennants look very much like a symmetrical triangle but are typically smaller in size, ( volatility ) and duration.
AMARAJABAT formed a bullish pennant on Daily chart . Waiting for a breakout to enter long.
Long above 781 | Stop-loss 755 | Pattern Price Target 850
Ideal target is 880, A strong resistance zone .
Risk/Reward 1:4
Hi Guys,
Gold Gave a beautiful bull Pennant breakout a few days back and Currently in the consolidation mode. Theoretically, it should repeat the similar move(which it gave from 1275-1425) after this consolidation which will probably lead it toward 1520-1550 range.
Vedanta Chart formed Bullish Pennant.
Entry 168.4
Stop Loss - 165.65
Target.. 175
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Something is buzzing in sugar stocks, given the formation of BULLISH PENNANT in few of the sugar stocks, seems something sweet is in the offering soon.
However hold on your Horses, before jumping to trade it. All the sugar stocks viz. Dhampur, Dalmia & Uttam have formed Bullish Pennant , however we need to wait for a confirmation, before Buying the...
Somethings buzzing in sugar stocks, given the formation of BULLISH PENNANT in few of the sugar stocks, seems something sweet is in the offering soon.
However hold on your Horses, before jumping to trade it. All the sugar stocks viz. Dhampur, Dalmia & Uttam have formed Bullish Pennant , however we need to wait for a confirmation, before Buying the Sweetner.
Somethings buzzing in sugar stocks, given the formation of BULLISH PENNANT in few of the sugar stocks, seems something sweet is in the offering soon.
However hold on your Horses, before jumping to trade it. All the sugar stocks viz. Dhampur, Dalmia & Uttam have formed Bullish Pennant, however we need to wait for a confirmation, before Buying the Sweetner.
HCC Entry 15.15 | Stop 13.95 | Target 20
8% Risk | 32% Reward
1: 4 RR
Continuation Pattern
Bullish Pennant
Price highs move slightly lower and price lows move slightly higher. Drawing a trend line connecting price highs and then another connecting price lows form two converging lines which are an identifying feature of the pennant.
IDENTIFICATION...
peannant pattern:
-breakout on either side can determine who is in control,upper side for bulls and lower side for bears.
-it still seems bullish, confirmation will be given on the breakout.
