A pennant is a type of continuation pattern formed when there is a large movement in a security, known as the flagpole, followed by a consolidation period with converging trend lines—the pennant—followed by a breakout movement in the same direction as the initial large movement, which represents the second half of the flagpole. (Source: Investopedia)
SCHW has been trending up and with the recent quarterly report had a massive gap up followed by a tight consolidation.
Confirmations to look for:
1. Fundamentals - Look at industry sector and other earnings report that can support the bullish thesis for the continuation.
2. Breakout with High Volume
3. Retest of previous resistance or sellers reaction points
Early entry is 65.51
Entry with confirmation can be around 66
Price Target is 68-70
If price holds 68, then 73, 75
SCHW has been trending up and with the recent quarterly report had a massive gap up followed by a tight consolidation. Confirmations to look for:
1. Fundamentals - Look at industry sector and other earnings report that can support the bullish thesis for the continuation.
2. Breakout with High Volume
3. Retest of previous resistance or sellers reaction points
Early entry is 65.51
Entry with confirmation can be around 66
Price Target is 68-70
If price holds 68, then 73, 75
註釋
With the sell off, now the bullish pennant is looking more like a falling wedge.
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這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。