βΆοΈPennant
Continuation pattern
Last updated
Continuation pattern
Last updated
Pennants are continuation patterns drawn with two trendlines that eventually converge. A key characteristic of pennants is that the trendlines move in two directionsβone will be a down trendline and the other an up trendline.
Often, the volume will decrease during the formation of the pennant, followed by an increase when the price eventually breaks out.
Reference: https://www.investopedia.com/articles/technical/112601.asp