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Pennant (Bearish)

Trading Term

A Pennant (Bearish) follows a steep or nearly vertical fall in price and consists of two converging trendlines that form a narrow, tapering flag shape. The Pennant shape generally appears as a horizontal shape, rather than one with a downtrend or uptrend. Apart from its shape, the Pennant is similar in all respects to the Flag. The Pennant is also similar to the Symmetrical Triangle or Wedge continuation patterns; however, the Pennant is typically shorter in duration and flies horizontally.

Trading Central example chart pattern of a Pennant (Bearish).

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