CAMS
The flag pattern is a powerful trend continuation pattern. It represents a brief consolidation after a strong price movement.
In this example of
CAMS
, - We can see a sharp uptrend in the charts. The stock rallied ~27% or by 611 in 11 bars (18 days).
- This was followed by price consolidation in a downward-sloping channel. The price kept cris-crossing between the channel at least for few times before closing outside the channel.
- Currently the price has broken out of the channel and is in the same direction as the initial trend of the chart.
- Current BO does not have heavy volume even though it is preferred to have one.
Disc - invested, for educational purposes only.