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LeLaf
Feb 16, 2021 12:05 AM

REI: Bullish Pennant Long

Ring Energy, Inc.Arca

Description

Bullish Pennant
Pros:
Descending volume during formation
Golden cross in blue
PPS above 50MA and 200MA
RS above 0, and ascending
ATR Ascending
R/R ratio above 7
200MA ascending, but barely
Cons:
250RSI below 50

Target:
PT = 3.68$

Comments
otaborda
Question: how do you play the gaps? do you normally want them to be filled before a bullish pennant confirmation ?
thanks !
LeLaf
@otaborda, Idealy, yes. So I wait for a confirmation of the pennant before taking a position in. If there is no confirmation, I do not even bother getting onboard.
otaborda
@LeLaf, copy... thanks !
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