Pennants

• Type: continuation
• category
  • bullish pennants (bullish)
  • bearish pennants wedges (bearish)

Pennants usually signal a small pause in a strong trend. They form in the shape of triangles, but they are very brief, with the resulting move duplicating the movement that preceded the formation of the pennant. In an uptrend, a bullish pennant will form when a small period of consolidation is followed by a strong desire by bulls to drive prices higher. It will be a signal that bulls are charged up for another strong push higher.

Draw bullish pennants in WeWave studio

• Studio page
  • Draw up trend, followed by a mid or small size triangle, end with a bull run
  • In filter, add positive price filter for Price change
  • click search

• In search result, pick one of the ticker and click it

  

• Confirm if the price history forming a rising wedge visually

  

• click the snapshot button in the right bottom corner of chart to save it