Bearish

A bearish pennant chart pattern is a technical analysis indicator that typically forms after a sharp price decline, followed by a period of consolidation. This consolidation period can last from one to several weeks, giving traders a chance to observe the pattern closely and make an informed decision. When the price breaks out of the triangle of the pattern, it indicates that the bearish trend is likely to continue. Traders may enter short positions in the market when the price breaks out of the triangle. It is important to be careful when trading bearish pennant patterns, as false breakouts can occur and result in losses. It is also important to pay attention to other indicators, such as volume and momentum, to confirm the pattern.

Bullish double pennant

A bullish pennant is a continuation chart pattern which forms when the price of a security consolidates in a symmetrical triangular pattern before breaking out in the same direction as the previous trend. The pattern is composed of two consecutive pennants, with the second pennant having a smaller range than the first. During the formation of the pattern, the price will usually move in a narrow range and form two converging trend lines. The pattern typically appears during an uptrend, and when the price breaks out above the upper trend line, it signals a continuation of the preceding uptrend.