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Pennant

Continuation pattern

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Last updated 2 years ago

Pennants are continuation patterns drawn with two trendlines that eventually converge. A key characteristic of pennants is that the trendlines move in two directionsβ€”one 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

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Pennant