Title: Bullish Pennants & Flags
Description: A bullish continuation pattern
Description: A bullish continuation pattern
Lion - September 24, 2005 09:44 AM (GMT)
2005-09-24 daily chart ($0.665)
Sarin
Marvellous! From a low of $0.265 all the way to a high of $0.69 , gaining more than 150% in 5mths time...
Price action is now congested within a narrow range of $0.66~$0.685 , on much lower volume as against a previous long white candle, just like many of its previous cases (pennants, flags & symmetric triangle) as highlighted.
Accumulation? Or Distribution? There's no answer yet...
A] Accumulation it is - when Sarin blows another powerful white candle above $0.685
B] Distribution it is - when Sarin closing below $0.66 , or 14days RSI falls thru' the dotted-line to form a divergence breakout
Sarin
Marvellous! From a low of $0.265 all the way to a high of $0.69 , gaining more than 150% in 5mths time...
Price action is now congested within a narrow range of $0.66~$0.685 , on much lower volume as against a previous long white candle, just like many of its previous cases (pennants, flags & symmetric triangle) as highlighted.
Accumulation? Or Distribution? There's no answer yet...
A] Accumulation it is - when Sarin blows another powerful white candle above $0.685
B] Distribution it is - when Sarin closing below $0.66 , or 14days RSI falls thru' the dotted-line to form a divergence breakout
Lion - October 17, 2005 12:38 AM (GMT)
2005-10-16 daily chart ($0.66)
Ho Bee
This is an interesting example of bullish Flag & bullish Pennant patterns. Three typical observations you may want to take note:
1. often, this kind of bullish continuing pattern occurs after a big rise on big volume (thou' not always and definitely...)
2. volume normally contracts within the flag/pennant (as shown with the violet lines)
3. the continuation move is often initiate with another upmove on a jump in volume (as shown by the green lines)
4. the flag-pole target:
[a] $(0.47 - 0.375) + $0.45 = $0.545
[b] $(0.55 - 0.45) + $0.535 = $0.635
[c] $(0.63 - $0.535) + $0.60 = $0.695
And.. do you notice these measured targets almost matched each peak of Aug, Sep & Oct? Amazing...! :o
As of now, Ho Bee again initiate yet another big move on 07/10 with big volume and once again, volume contracts while price retrace. Is this another Flag move? Too early to say... we've better wait for at least Condition (3) above to confirm :rolleyes:
Ho Bee
This is an interesting example of bullish Flag & bullish Pennant patterns. Three typical observations you may want to take note:
1. often, this kind of bullish continuing pattern occurs after a big rise on big volume (thou' not always and definitely...)
2. volume normally contracts within the flag/pennant (as shown with the violet lines)
3. the continuation move is often initiate with another upmove on a jump in volume (as shown by the green lines)
4. the flag-pole target:
[a] $(0.47 - 0.375) + $0.45 = $0.545
[b] $(0.55 - 0.45) + $0.535 = $0.635
[c] $(0.63 - $0.535) + $0.60 = $0.695
And.. do you notice these measured targets almost matched each peak of Aug, Sep & Oct? Amazing...! :o
As of now, Ho Bee again initiate yet another big move on 07/10 with big volume and once again, volume contracts while price retrace. Is this another Flag move? Too early to say... we've better wait for at least Condition (3) above to confirm :rolleyes: