Megaphone pattern is a pattern which consists of minimum two higher highs and two lower lows. The pattern is generally formed when the market is highly volatile in nature and traders are not confident about the market direction. Normally this pattern is visible when the market is at its top or bottom.
Also referred to as an ascending broadening wedge and an inverted triangle. This pattern appears after a strong trend up or a strong trend down
When the pattern is forming it represents that the bulls and bears are fighting to build control of the stock.
The pattern takes place when the bulls take the prices higher.
At the time of formation of the Megaphone Top, then again, bears make the prices fall because of which lower lows are formed.
There are bearish megaphone patternis and bullish ones as well. Neutral/just an observation
I guess if you really like this stock you can swing trade inside of it
Not a recommendation
Also referred to as an ascending broadening wedge and an inverted triangle. This pattern appears after a strong trend up or a strong trend down
When the pattern is forming it represents that the bulls and bears are fighting to build control of the stock.
The pattern takes place when the bulls take the prices higher.
At the time of formation of the Megaphone Top, then again, bears make the prices fall because of which lower lows are formed.
There are bearish megaphone patternis and bullish ones as well. Neutral/just an observation
I guess if you really like this stock you can swing trade inside of it
Not a recommendation
Comment:
Mid MP is 210.3