Chart patterns
Pennant
Definition
The same pause shaped like a tiny symmetrical triangle, with lines that converge instead of running parallel.
Example
Say a stock drops from $50 to $44 in two sessions, then trades in a shrinking range: $44.00 to $46.00, then $44.50 to $45.60, then $44.80 to $45.30. The falling highs and rising lows converge into a small triangle, a bear pennant after a falling pole. It is confirmed only by a close below the lower line; a close above the upper line voids it.
Hypothetical numbers, for illustration only.
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