A continuation chart pattern seen when a security shows large upward or downward motion followed by a brief consolidation period before continuing to move in the same direction. The pattern looks like a small symmetrical triangle (referred to as the “Pennant”) made up of several candlesticks. Pennant patterns can be either bullish or bearish. They have two breakouts, one at the end of the flagpole and one after the consolidation period.
Pennant Chart Pattern
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