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Pennant

A pennant can be used as an entry pattern for the continuation of an established trend. The formation usually occurs after a sharp price movement that can contain gaps (known as the mast or pole of the pennant) where the pennant represents a period of indecision at the midpoint of the full move, consolidating the prior leg. The price is contained by a small symmetrical triangle that begins wide and converges to a point as the pattern develops.

Bullish pennants can form after an uptrend, bearish pennants can form after a downtrend. The pattern has completed when price breaks out of the triangle in the direction of the preceding trend, at which point it will likely continue in this direction. Conservative traders may look for additional confirmation of the trend continuing. The target can be estimated using the technique of measuring the length of the mast and extending it in the direction of the breakout. A common stop level is just outside the pennant on the opposite side of the breakout. Pennants should not be mistaken for triangles, which are distinct price patterns.
rony.kris rony.kris LTCUSD, 240, Long ,
LTCUSD: Broke out of pennant - Short term trade
100 4 0
LTCUSD, 240 Long
Broke out of pennant - Short term trade

Here is a short term trade for LTC. Currently LTC is getting traded at low volumes. Probably because of all the news in the media. It broke out of the pennant (falling wedge) and currently hovering close to fib level 0.786. If it manages to surpass this resistance then it'd find resistance at fib level 1. Now that is close to 20 points high. Looking at RSI, ...

prathapreddy prathapreddy NIFTY, 15, Short ,
NIFTY: Nifty
183 0 3
NIFTY, 15 Short
Nifty

Nifty 15mins

safri safri KOTAKBANK, 15, Long ,
KOTAKBANK: Bull Pennant Pattern on Kotak Mahindra Bank
106 1 5
KOTAKBANK, 15 Long
Bull Pennant Pattern on Kotak Mahindra Bank

Bull Pennant Pattern on Kotak Mahindra Bank.

atleastic atleastic PRO SREINFRA, D, Short ,
SREINFRA: SREI SHORT POSITION
14 0 0
SREINFRA, D Short
SREI SHORT POSITION

SREIInfrastructure has bearish formation here with resistance from the ICHIMOKU cloud on top as well as a fall below the EMA(200). MACD signal is also bearish. An overall bearish movement with lower high's and lower low's.

praveen.bhatiya praveen.bhatiya HCC, D, Long ,
HCC: Buy : Pennant Pattern breakout
55 0 0
HCC, D Long
Buy : Pennant Pattern breakout

I like this pattern for its reliability and fast achievement of target. The pattern has given breakout today and we can expect the prices around 47 withing a week time.

prathapreddy prathapreddy GSS, M, Long ,
GSS: GSS
40 0 0
GSS, M Long
GSS

GSS, buy after BO

rony.kris rony.kris LTCUSD, 240, Long ,
LTCUSD: Pennant formation - Watch for the breakout
119 4 0
LTCUSD, 240 Long
Pennant formation - Watch for the breakout

LTC is in a pennant; similar to an ascending triangle formation. To me this is an indication of a bullish continuation pattern. If it breaks out of the ascending triangle then you may expect a decent bull run. That said, my trade setup would be something like this - Post confirmation: Buy @ 334 - 338 Target ~438 Stop Loss ~300 Please feel free to revert with ...

M_M: !!MAHINDRA MOTORS POSITIVE BUILT-UP!!
63 2 3
M_M, W
!!MAHINDRA MOTORS POSITIVE BUILT-UP!!

1)MONTHLY CHART -The stock managed to close above its previous crucial resistance zone -we saw a pennant breakout -macd turned positive -rsi at 59 needs to cross 63 for higher levels which will be achieved in the coming months -if the stock manages to close above 1478 on monthly basis then we will achieve higher levels ...

vanathi vanathi TOP TATASTEEL, 60,
TATASTEEL: TataSteel - Bull Pennant!
355 8 15
TATASTEEL, 60
TataSteel - Bull Pennant!

Priceaction has formed a bull pennant. Can buy above 704 for the targets 710, 716 and 722 with the stop loss of 698. If this pattern fails, can go short below 694 with the stop loss of 699 for the targets 688, 683 and 678.

yndesai yndesai PRAJIND, D, Long ,
PRAJIND: Praj flag breakout
73 0 1
PRAJIND, D Long
Praj flag breakout

target 145

manavtechresearch manavtechresearch SUNTV, D, Long ,
SUNTV: SUN TV BEGINS TO TRADE IN A POSITIVE CHANNEL
72 0 5
SUNTV, D Long
SUN TV BEGINS TO TRADE IN A POSITIVE CHANNEL

Good positional traders always look to trade the range..... Now there are two different chart patterns on different time frames 1)WEEKLY Chart shows the stock is in almost a flag formation with a pennant shape I rule it as a pennant price is reaching its upper end and the stock has gained momentum shown by "MACD" It is important that in the expiry week the ...

M_M: M&M A GOOD BULLISH BREAKOUT
87 0 5
M_M, M
M&M A GOOD BULLISH BREAKOUT

Stock is performing good on weekly and monthly charts Indicators have one positive prices are breaking out of patterns on both the chart intervals Indicating higher price levels "Now most importantly there is a month end which is very near so if the stock manages to close above 1478 on monthly chart we are sure we will have new price levels in M&M" ...

rony.kris rony.kris VTCUSD, D,
VTCUSD: VTC bullish pennant formation
31 0 0
VTCUSD, D
VTC bullish pennant formation

A tiny bullish pennant formation is seen in the daily chart . It has consolidated for long within this formation. MACD and RSI are looking good. I'd go long just when it appears to break out. Target 1 - If it breaks out of the pennant there is a probability of it testing the fib0.618 resistance Target 2 - if it manages to surpass the above then i am sure it'll ...

rony.kris rony.kris VTCUSD, D,
VTCUSD: VTC in a bullish pennant
20 0 0
VTCUSD, D
VTC in a bullish pennant

A tiny bullish pennant formation is seen in the daily chart. It has consolidated for long within this formation. MACD and RSI are looking good. I'd go long just when it appears to break out. Target 1 - If it breaks out of the pennant it'd test the fib0.786 resistance Target 2 - if it manages to surpass that then i am sure it'll hit the previous ATH and may go ...

anandnst anandnst PRO ASIANPAINT, D, Long ,
ASIANPAINT: ASIANPAINT CASH : PENNANT PATTERN BREAKOUT- MUST TRADE
58 0 3
ASIANPAINT, D Long
ASIANPAINT CASH : PENNANT PATTERN BREAKOUT- MUST TRADE

ASIANPAINT GOOD CASH ABOVE 1190 SL 1182 TGT 1197-1200/1218/1240/1260 cmp 1180 (16 Nov 2017)

Pragycool Pragycool AARTIDRUGS, W, Long ,
AARTIDRUGS: AARTI DRUGS - 3YRS - BREAKOUT --- COMING SOON....
90 2 7
AARTIDRUGS, W Long
AARTI DRUGS - 3YRS - BREAKOUT --- COMING SOON....

When major market is showing correction defensive will work and non better than Aarti Drugs. please keep watch on stk and can c breakout soon..... Not a SEBI certified analyst please take financial advisor help before investing.

anandnst anandnst PRO BALRAMCHIN, 60, Long ,
BALRAMCHIN: BALRAMPURCHINI - Short term move expected
44 0 0
BALRAMCHIN, 60 Long
BALRAMPURCHINI - Short term move expected

INTRADAY- Buy Balrampurchini above 172 SL 168.5 Tgt 174.50-175/178 (CMP 168) (06 Nov 2017)

anandnst anandnst PRO RAYMOND, 60, Long ,
RAYMOND: RAYMOND -Pennant Pattern breakout Tgt 1000++
73 0 4
RAYMOND, 60 Long
RAYMOND -Pennant Pattern breakout Tgt 1000++

INTRADAY- Buy Raymond cash above 973 SL 962 TGT 983-985/997-1000/1010 (CMP 963.35) (06 NOV 2017)

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