[Positional] IGL Long IdeaIGL has created a very good 'Flagpole Pennant pattern on daily basis.
There was sharp upmove observed from the levels of 350 -440 (8 aug - 16 Aug). After that the stock has been consolidating only from last 10 sessions and the range is getting smaller and smaller creating a pennant.
What Is a Pennant?
- A pennant is a type of continuation pattern.
- When there is a huge movement in the stock, it forms a flagpole like structure- a very straight up move of more than 3 huge bullish candles.
Long
