Just for a bit of fun.
Here is a nice breakout of a triangle. Decreasing volume during the formation of the pattern and increased volume in the breakout today.
Looking pretty bullish!? Everyone work out what it is?
A pennant is a relativeley long tapering flag and for technical analysis usually a symmetrical shape.
Not to be confused with rising/falling wedges, ascending/descending triangles or diddly squats.
Just for a bit of fun.
Here is a nice breakout of a triangle. Decreasing volume during the formation of the pattern and increased volume in the breakout today.
Arrhhh!!
I spent 10 min last night doing a search for this. was going to reply that there was only 1 stock in all the ASX that closed between 37 and 37.5.
But its doesn't match! And I stare at this chart all day, fool!
Arrhhh!!
I spent 10 min last night doing a search for this. was going to reply that there was only 1 stock in all the ASX that closed between 37 and 37.5.
But its doesn't match! And I stare at this chart all day, fool!
You could've just asked:
I'm not sure if a couple of days action is sufficient to establish a pattern. It may be, but there seems to be a higher probability of a pattern conforming to the T/A theory when there's more time involved in the S&R.MLI is forming a wedge/pennant. Is there much difference between the the two. The important question is which direction is it going to break out.
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