A pennant is a short-term triangular shaped chart pattern
and it can also act as a trend reversal or continuation pattern.
| Characteristic | Remark |
| Price Trends | Flags and pennants always rest upon a flag pole, so lookout for a strong price run leading to them. |
| Two converging trend lines | The price of flags follow 2 parallel or nearly parallel trend line. The price of pennants follow 2 converging trend line. |
| Volume | Volume in the chart pattern recedes. |
| Breakout Duration | If can break in any direction but usually its a continuation of the existing trend. Flags and pennants are shorter than 3 weeks. |
Venture Corporation form a bullish pennants after the corona virus March 2020 crash.
For Fu Yu, the uptrend continue with the forming of 2 flags pattern.
Conclusion
When you did not see a flag pole, then it is not a flag or a pennant chart pattern. Flags and pennants are continuation pattern which allow you the opportunity to ride the existing trend.
Singapore
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Pattern
Analysis