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Bullish Pennant

Bullish Flag or a Bullish Pennant for TNY?Bullish flag formations are found in stocks with strong uptrends. They are called bull flags because the pattern resembles a flag on a pole. The pole is the result of a vertical rise in a stock and the flag results from a period of consolidation. The flag can be a horizontal rectangle, but is also often angled down away from the prevailing trend. Another variant is called a bullish pennant, in which the consolidation takes the form of a symmetrical triangle. The shape of the flag is not as important as the underlying psychology behind the pattern. Basically, despite a strong vertical rally, the stock refuses to drop appreciably, as bulls snap up any shares they can get. The breakout from a flag often results in a powerful move higher, measuring the length of the prior flag pole. It is important to note that these patterns work the same in reverse and are known as bear flags and pennants. What is a Pennant? In technical analysis, a pennant is a type of continuation pattern formed when there is a large movement in a security, known as the flagpole, followed by a consolidation period with converging trend lines - the pennant - followed by a breakout movement in the same direction as the initial large movement, which represents the second half of the flagpole. Bullish pennants, just like its name suggests, signals that bulls are about to go a-charging again. This means that the sharp climb in price would resume after that brief period of consolidation, when bulls gather enough energy to take the price higher again. Pennants are often continuation chart patterns formed after strong moves. After a big upward or downward move, buyers or sellers usually pause to catch their breath before taking the pair further in the same direction. Because of this, the price usually consolidates and forms a tiny symmetrical triangle, which is called a pennant. Higher lows on the RSI & it is trading at approximately 52. Traditional interpretation and usage of the RSI dictates that values of 70 or above suggest that a security is becoming overbought or overvalued and may be primed for a trend reversal or corrective price pullback. An RSI reading of 30 or below indicates an oversold or undervalued condition.
TLong
by ScotianBot
$GC_F -- Bullish continuation on inverseI believe that $GC_F has one more big move up where it will test the previous ATH level. It still has alot of strength after breaking out of its inverse h&s pattern. Now its forming a bullish pennant where I believe it will breakout of the pennant to reject the current highs, retest the pennant top line or somewhere around there then breakout to previous ATH levels where it will then dump hard. Really hard/impossible to predict it 100% accurately but this is what i think will happen. thanks for reading.
COMEX:GC1!
by Bearish-Bulls
YUM Brands Update - Bullish PennantPennant Pattern - Continuation Pattern. The brand owns: KFC, Pizza Hut, Taco Bell, The Habit Burger Grill and Wing Street worldwide. Long Term Analysis (Go long Option 2) - It is a Bullish Market and it was a bullish Market just before the COVID-19. YUM BRANDS adjusted it assets to accommodate the new market requests. Wait the right time to go Long, perhaps once the level 83.50 is achieved, we can think to go long Short Term Investment - Go short (Option 1) up to 83.50
NYSE:YUMShort
by Mauriello
YUM BRANDS (PIZZA HUT, KFC)Yum! Brands The brand owns: KFC, Pizza Hut, Taco Bell, The Habit Burger Grill and Wing Street worldwide. Long term analysis - Market was bullish before the Virus and it changes quickly to accommodate the virus/crisis requests, so it should keep going upward - Bullish long term Short Term I would go Bullish - same direction of the trend, but there is an Option B where the price can jump back to 84.00 Technical Analysis pattern - it seems to be a bullish pennant/flag (rectangular) pattern (more flag less rectangular).
NYSE:YUMLong
by Mauriello
A potential fallingwedge/bullishpennant appearsHave yet to see any legitimate volume surge on the last long red candle we just closed on the 1 day chart which suggests we have not broken out of whatever consolidation pattern we have been in yet...the bounce of the current 1 day candle currently creates the opportunity for this falling wedge shown here in blue...as well as a bullish pennant with the falling wedge as the pennant...the head and shoulder breakdown is still very much a possibility here but with the current 1 day candles bounce off this trendline this falling wedge is now in play as well. So for now I remain neutral until I see a decisive break below this newly formed wedge possibility.
COINBASE:BTCUSD
by DrDovetail
2
BULLS REMAIN IN CONTROL (READ DESCRIPTION)The bears had their time over the last couple days with no significant drop . Gold bounced from some strong support levels, indicating the bulls are still in control. Price is currently in a consolidation zone between 1580-1640 and may stay within this range for some time before a breakout occurs. It will test the 1640 level next and if it breaks past, we could see a run to test 1700 again. Outlined are two bullish pennant patterns. Key support outlined with solid blue lines, key resistance in solid red lines. Overall, looking like the bulls have maintained control, also due to strong underlying fundamentals. What are your thoughts? Make sure to follow for more!
FX:XAUUSDLong
by PerryWave
3
3hr chart symmetrical triangle now the dominant pattern.After some peculiar price action it now seems the most valid timeframe for a symmetrical triangle here is the 3hr chart. It is always a bit of a risk looking for a pattern on a 1hr chart so having to move to the 3hr chart to find a symmetrical triangle that was still looking valid doesn't surprise me.; In general I usually stick to the 1 day and 1 week charts but went with the 1 hr chart this time around because there were so many valid touches from the candlesticks....ultimately even if this 3hr symmetrical triangle starts looking wonky, we we likely maintain the 1 day basic bullflag it isnt until the 1day chart bullflag gets invalidated that we need to worry about bearish confirmation.
COINBASE:BTCUSD
by DrDovetail