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Pennant

How to make a winning trade using pennants A pennant is a small symmetrical triangle that begins wide and converges as the pattern matures (like a cone). Here is an example of IEX. The company has declared a good set up of numbers on 22nd July. Profit after tax is up by 48% Sales are up by 36% The price is now hovering near the previous Resistance which now acts as a support Tight price range near the support level. Look at the small candles. Price goes up with rising volume on 23rd Aug. Any pattern may falter depending on the overall market condition. So one should always keep a stop loss. :) Hope you liked the idea. Happy trading.
NSE:IEXEducation
by ObliviousChart
6
A wonderful swing trade opportunity for 30% returnSwing trade with both technical and fundamental conviction!! A flag and pennant pattern is formed in Saksoft and once it is broken, we can see a good upward move. CMP is 666 and it should be bought for a target of 860. Target is calculated using flag pattern height. SL will be 600 on a closing basis. Target might take 1-2 months to hit. Saksoft is a really good IT company and the companies sales, profit, EPS is increasing for many years which indicates good fundamentals. Do hit the LIKE button if you liked the analysis and FOLLOW for regular swing trading ideas. Happy Trading :)
NSE:SAKSOFTLong
by TradingWithRahul
BankNifty Intraday Trade Setup | 13th AugustBankNifty opened with a minor gap-up near resistance and we saw a rejection in the opening. We bought 36200 PE at 280 which went to above 500 and we booked great profit. We again bought the same 36200 PE around 290 which again went to 400+. BankNifty is trading in the triangle pattern and forming higher highs and higher lows, if it opens flat tomorrow and breaks this on the upper side, we can see a 100-150 points fast move in the morning. Expectations for Tomorrow: Trending day. Intraday Levels: Buy Above 36020 Sell Below 35800 To motivate me, Please like the idea If you agree with the analysis. Happy Trading! InvestPro India Team
NSE:BANKNIFTY
by InvestPro_India
Bullish Pennant Pattern | IRCTC | Simple Trade Setup | NEXT WEEKNSE:IRCTC After big gap-up in this week, it has been trading and making higher lows and lower highs. And it is forming a Bullish Pennant Pattern. Fundamental That Bullish move (big gap up )is mainly by the news of Stock Splits. On 12th Aug, board meeting is there in consideration for Stock Split. Simple Trade Setup Trade levels and Targets are mentioned on the chart. Hope it is easy to understand. Do comment your doubt or suggestion.
NSE:IRCTCLong
by Trading_hawk
13