The bear flag is a bearish continuation pattern and occurs in a downtrend. The first step in identifying the bear flag is to look for a downtrend. Next, look for a flag or wedge like structure that slopes up against the prevailing downtrend. You can get an idea of where price may go by projecting the length of the pole downward from the flag.
Often when a security has lost this much ground, folks will sell on rallies up to salvage as much as they can as they are probably in financial pain at this point. This could also cause a bear flag.
It is possible for a Bear Flag to break to the upside and a Bull Flag can break to the downside.
UPST has fallen from a head and shoulders pattern a while back.
No recommendation.
Often when a security has lost this much ground, folks will sell on rallies up to salvage as much as they can as they are probably in financial pain at this point. This could also cause a bear flag.
It is possible for a Bear Flag to break to the upside and a Bull Flag can break to the downside.
UPST has fallen from a head and shoulders pattern a while back.
No recommendation.
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