farisoftrading

Pennant (Bullish)

Long
NYSE:HBI   Hanesbrands Inc
The price seems to be resuming a sharp rally after taking a brief pause.

A bullish Pennant pattern occurs during a dynamic market rally, representing a brief period of indecision before running off again in the same direction. The pattern consists of two converging trend lines with diminishing volume , and is confirmed when the price breaks through the upper boundary to resume the advance.
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