Get started

Pennant

Pennant pattern BreakoutThe stock has nicely formed the Pennant Pattern and gave breakout with higher volume. A little more volume would have made it more reliable however this pattern has a Flat base before forming the pattern. Statistically Flag/Pennant pattern after flat base performs better. One can buy the stock for a target of 2280 - 2300 by providing the suitable SL. Disclaimer : All ideas and comments are my personnel view. Please take financial consultancy for trading decision.
NSE:BAJFINANCELong
by praveen.bhatiya
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 comments are my personnel view. please take financial consultancy for trading decision.
MLong
by praveen.bhatiya
4
Inverted Pennant Patter in HDFC Bank, Waiting for breakoutAs 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 an Inverted Pennant Pattern yet the breakout is still awaited. Breakout on lower side could take prices to fall again the pole size of first move which comes around 200 points. e.i If prices are giving negative breakout from 1850, then we can see HDFC Bank falling 200 points from 1850 where we can expect it to fall till 1650. However, If the prices are breaking on the higher side, the current pattern will not work hence need to wait for some other Pattern or Study.
NSE:HDFCBANKShort
by pratiktech
6
Inverted Pennant Pattern in Nifty, Waiting for BreakoutNifty 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 fall again the pole size of first move which comes around 900 points. e.i If prices are giving negative breakout from 10500, then we can see Nifty falling 900 points from 10500 where we can expect nifty to fall till 9600. However, If the prices are breaking on the higher side, the current pattern will not work hence need to wait for some other Pattern or Study
NSE:NIFTYShort
by pratiktech
Broke out of pennant - Short term tradeHere 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, there is enough room for buyers. MACD is showing a bullish divergence. That said - here is the short term target. Buy - now ($280) Target Profit - $300 - $309 Stop Loss - $271 As always, please feel free to revert with feedback and questions. Merry Christmas and happy trading!
BITSTAMP:LTCUSDLong
by rony.kris
4
!!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 MONTHLY TRADEVIEW BUY @1480 STOP @1430 TARGET @1580-1660 ITS A LONG-TERM TRADE FOR A MINIMUM PERIOD OF 6 MONTHS 2)WEEKLY CHART -on weekly chart the stock managed to close above 1478 which was last seen as on 4/7/2016 -rsi has gained strength -macd has shown positive momentum -we saw a symmetric triangle pattern on weekly chart -we saw a symmetric triangle-breakout WEEKLY TRADEVIEW BUY @1478 STOP @1430 TARGET @1530-1550-1580 TARGET IS NOT BASED ON PATTERN LENGTH WAITING FOR A MONTHLY CLOSE 3)DAILY CHART -rsi is at 69 which saw a sharp spike such spike show that the levels of rsi is increased till 80 but before that the stock will test 1508 before entering overbought zone -macd has shown positive crossover DAILY TRADEVIEW BUY @1478 STOP @1450 TARGET @1508
NSE:M&M
by manavtechresearch
2