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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.
sandipan.mch sandipan.mch IXIC, 1W,
IXIC: Bulls out of the ventilator ..
24 0 3
IXIC, 1W
Bulls out of the ventilator ..

TVC:IXICINDEX:NASX disclaimer... not an investing/trading recommendation

praveen.bhatiya praveen.bhatiya MINDTREE, 1D, Long ,
MINDTREE: Flag/Pennant Breakout !
189 4 10
MINDTREE, 1D Long
Flag/Pennant Breakout !

The stock is clearly in strong uptrend. Recently it has formed a perfect Pennant pattern and gave breakout yesterday with good volume by closing above the pattern high. The pattern looks promising moreover this small pattern gives fast result. One can enter the long now or on small pull back for a target of around 900. Disclaimer : All stock recommendations and ...

sauravkpaul sauravkpaul PURVA, W, Long ,
PURVA: PURVA Weekly Flag Breakout
36 0 1
PURVA, W Long
PURVA Weekly Flag Breakout

Puva Weekly flag breakout. All details in chart

sandipan.mch sandipan.mch MIDCAP, 1W,
MIDCAP: The Panic Broth - MIDCAP INDEX
36 0 4
MIDCAP, 1W
The Panic Broth - MIDCAP INDEX

DISCLAIMER...this is not an investing/trading recommendation

sandipan.mch sandipan.mch NIFTY, 1W,
NIFTY: The Phoenix in the Fallen Bull -NIFTY50
233 0 7
NIFTY, 1W
The Phoenix in the Fallen Bull -NIFTY50

NSE:NIFTY 9722 is The Most Important level For the health of the bull-Pivot+Kumo cloud support+ML of PF// vs// Bearish momentum of the Deepbearcrab Disclaimer... this is not an investing/trading recommendation

nimbuz90 nimbuz90 UJJIVAN, 60, Short ,
UJJIVAN: Pennant formation on Ujjivan
57 0 1
UJJIVAN, 60 Short
Pennant formation on Ujjivan

The stock has formed a pennant pattern with high volume data. We could either look to short below 339 or sell on rise @ 345 zone. Expecting a breakdown move of 15 - 20 points on the downside. Entry - Below 339 or sell on rise @ 345 based on further price action. SL - 350 T1 - 330 T2 - 325 T3 - 320 Purely for study purpose Thanks.

pratiktech pratiktech HDFCBANK, 1D, Short ,
HDFCBANK: Inverted Pennant Patter in HDFC Bank, Waiting for breakout
130 6 4
HDFCBANK, 1D Short
Inverted Pennant Patter in HDFC Bank, Waiting for breakout

As to my earlier view, we saw same pattern in Nifty. Similar to that is taking place in HDFC Bank as of now. HDFC Bank prices have corrected about 200 points from recent high's. Prices had taken support of ascending trend line around 1840. Since then prices are moving in range bound between 1936 - 1912. By drawing a trend line we can see that prices are forming ...

pratiktech pratiktech NIFTY, 120, Short ,
NIFTY: Inverted Pennant Pattern in Nifty, Waiting for Breakout
202 0 2
NIFTY, 120 Short
Inverted Pennant Pattern in Nifty, Waiting for Breakout

Nifty prices have corrected about 900 points from recent high's. Prices had taken support of ascending trend line around 10276. Since then prices are moving in range bound between 10300 - 10640. By drawing a trend line we can see that prices are forming an Inverted Pennant Pattern yet the breakout is still awaited. Breakout on lower side could take prices to ...

anandnst anandnst MARUTI, 30, Long ,
MARUTI: #Maruti cash : Looks good above 9060
49 0 1
MARUTI, 30 Long
#Maruti cash : Looks good above 9060

#Maruti cash Buy above 9060 SL 9020 Tgt 9088-9100/9140/9200 Cmp 9030

Trade_Warrior Trade_Warrior BANKNIFTY, 60,
BANKNIFTY: Pennant Pattern in Banknifty spot
168 0 2
BANKNIFTY, 60
Pennant Pattern in Banknifty spot

Bank Nifty Spot is creating flag & pennant Pattern in Hourly Chart. Watch out for breakout.

atleastic atleastic SREINFRA, D, Short ,
SREINFRA: SREI SHORT POSITION
34 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
72 0 1
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
74 0 0
GSS, M Long
GSS

GSS, buy after BO

rony.kris rony.kris LTCUSD, 240, Long ,
LTCUSD: Broke out of pennant - Short term trade
220 4 2
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, ...

rony.kris rony.kris LTCUSD, 240, Long ,
LTCUSD: Pennant formation - Watch for the breakout
130 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!!
68 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 TATASTEEL, 60,
TATASTEEL: TataSteel - Bull Pennant!
367 8 16
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
74 0 1
PRAJIND, D Long
Praj flag breakout

target 145

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