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Pennantflag

KPIGREEN : PENNANT FORMATIONNSE:KPIGREEN has recently experienced a significant bullish run, pushing its stock prices to new highs. Following this surge, the stock appears to be forming a classic pennant pattern, which is a continuation pattern often indicating that the prior trend will resume after a period of consolidation. Breakout Potential: If NSE:KPIGREEN breaks above the upper trendline of the pennant with increased volume, it could signal the continuation of the bullish trend. Traders might look for a breakout above the resistance level as a buy signal. Target Price: The height of the initial flagpole (the previous uptrend before consolidation) can be projected from the breakout point to estimate the potential upside target. Stop Loss: To manage risk, consider placing a stop-loss order just below the lower trendline of the pennant. This helps protect against downside risk if the pattern fails and the price breaks below support. As always, proper risk management and due diligence are essential when trading pattern formations.
NSE:KPIGREENLong
by VanshikaUdeshi
FSL : PENNANT FORMATIONUptrend Observation: The first notable aspect of NSE:FSL stock is the sustained uptrend it has displayed over a significant period. This bullish movement is characterized by higher highs and higher lows, indicating a strong buying interest in the market. Identification of Pennant Pattern: A Pennant is a technical analysis pattern that resembles a small symmetrical triangle, often forming after a strong price movement. The Pennant is typically considered a continuation pattern, suggesting that after a brief consolidation period, the prevailing uptrend is likely to resume. Key Characteristics of a Pennant: Symmetrical Triangle: The Pennant pattern is characterized by converging trendlines, forming a symmetrical triangle. This indicates a temporary balance between buyers and sellers. Decreasing Volume: During the formation of the Pennant, there is often a decline in trading volume. This reflects a contraction in market activity as the stock consolidates. Duration: Pennants are generally short-term patterns, with the consolidation phase lasting anywhere from a few days to a few weeks. Traders and investors who recognize the Pennant pattern in NSE:FSL stock may consider implementing a trading strategy based on a breakout. The breakout occurs when the stock price breaches either the upper or lower trendline of the Pennant pattern. Long Position: A trader might take a long position if the stock breaks out above the upper trendline, signifying a potential continuation of the uptrend. Short Position: Conversely, a short position could be considered if the stock breaks below the lower trendline, suggesting a possible reversal or downtrend. Regardless of the chosen direction, implementing a sound risk management strategy is crucial. Setting a stop-loss order just outside the boundaries of the Pennant pattern can help mitigate potential losses in case the breakout does not follow through as expected.
NSE:FSL
by VanshikaUdeshi
GRTUSDT is inside a PennantGRTUSDT is creating a pennant below the 4-hour resistance level, following a previous bull run. A pennant is a technical chart pattern that is formed when the price moves within converging trendlines, forming a symmetrical triangle shape. The pattern is characterized by a sharp price move in either direction, followed by a consolidation phase where the price forms lower highs and higher lows. The pennant pattern typically indicates a continuation of the previous trend, which in this case was a bullish trend. In this scenario, the market is consolidating after a strong bullish run, which could indicate that the market is gathering new liquidity. The previous support level at the 0.15$ area could act as a source of liquidity, as traders who missed the previous bull run may be looking to buy at a lower price. To apply Plancton's Rules in this scenario, traders should wait for the breakout from the current resistance level to be confirmed before opening a new long position. This means waiting for the price to break through the upper trendline of the pennant and establish new support. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <= 1h structure. Follow the Shrimp 🦐
by InkyGrip
6
AXSUSDT is creating a pennantThe price is creating a pennant on the 4h timeframe. The market is creating higher low higher high, it means that the we are in consolidation phase. Usually Pennant is a continuation pattern. How to approach it? We are monitoring the 19.5 support where the price created a equal lows. so if the price is going to have a breakout and retest this support as new resistance, According to Plancton's strategy , we can set a nice order ––––– Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ––––– Follow the Shrimp 🦐
Short
by InkyGrip
4
The dreaded death cross and a bearish pennant flag - What next? If you go back in AMD's chart, the golden and death cross has historically been a pretty good indicator to follow, and today, the death cross occurred, right below the pennant. While this may seem bearish, Id wait another couple days to make a trade because AMD just hit a looong support line ( A support trendline thats held for nearly 4 years (its that green line)). This could go two ways now, the bears win and that support turns resistance OR the trendline holds and this was just a fakeout. Tell me what you think (The results probably very largely dependent on their earnings report on 27th, which might be not be too great cos of the semiconductor shortage plaguing everyone) Thanks for reading, ask me anything and ill definitely respond - Hit that like button and follow me for more like this, itd mean a lot :) __________________________________________________________________ For anyone new to TA, Ive decided to explain any terms I use, just in case it helps someone - A death cross is when the 50 day MA moves under the 200 day MA (bearish) A golden cross is the opposite, its the 50 day MA moving over the 200 day MA (bullish) The pennant flag is that thing I drew in blue, its a pattern that when you draw over, it kinda looks like a pennant hanging on a flagpole, when its upside down its bearish and when its straight up its bullish
NASDAQ:AMD
by ReedusFeleedus
1