Today's session was quite meaningless and we have to still wait for market actions.
Nowadays, I rather prefer to avoid chart patters (as they are not reliable); however, as we don't have other signals, we might want to mark the pennant pattern (yellow lines).
Pennant is considered continuation pattern, thus it's rather negative signal on our chart.
Nevertheless, we should remember, that patterns are not confirmed before we break last low (or high).
Sources:
[http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:flag_pennant_continu]
Posts
No comments:
Post a Comment