TNY has seen some consolidation into an Ascending channel, which is another Bullish Pattern coinciding with multiple other bullish patterns that have played out recently.
Noticeably the green bullish flag I have outlined is a recent bullish pattern, and there was also a giant inverted H&S that played out to the upside, the right shoulder being the green bull flag & the head of the pattern is the green human icon.
How long the channel has lasted will help determine the trend's underlying strength.
In the context of technical analysis, a channel occurs when the price of an asset is moving between two parallel trendlines.
A channel consists of at least four contact points because we need at least two lows to connect to each other and two highs to connect to each other.
Notice a possible divergence on the RSI?
Noticeably the green bullish flag I have outlined is a recent bullish pattern, and there was also a giant inverted H&S that played out to the upside, the right shoulder being the green bull flag & the head of the pattern is the green human icon.
How long the channel has lasted will help determine the trend's underlying strength.
In the context of technical analysis, a channel occurs when the price of an asset is moving between two parallel trendlines.
A channel consists of at least four contact points because we need at least two lows to connect to each other and two highs to connect to each other.
Notice a possible divergence on the RSI?