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Pennant

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
SUN TV BEGINS TO TRADE IN A POSITIVE CHANNELGood 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 stock ends above 488 so that the stock can break above the pennant Big boost is that the stock managed to close above 853 a stop below this level will be very useful 2)DAILY Chart shows that the price is beginning to trade in a channel "MACD" is about to show positive crossover Mild support around 870 TRADE VIEW: POSITIONAL TRADE BUY @ 860-870 STOP @ 850 TARGET @ 890/910 !!HAPPY TRADING!! !!PLEASE LEAVE A LIKE COMMENT BELOW!! !!WATCH out for BTST/STBT IDEAS @ 3;20!! !!EVERYDAY!!
NSE:SUNTVLong
by manavtechresearch
VTC bullish pennant formationA 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 hit the previous ATH -0.10% and may go beyond. Therefore, look out for the breakout at $4.4 to go long and provide your feedback. Thank you!
V
by rony.kris
VTC in a bullish pennantA 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 beyond. Therefore, look out for the breakout at $4.4 to go long and provide your feedback. Thank you!
V
by rony.kris