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What is Pennant chart pattern?
A Pennant pattern is a continuation chart pattern, seen when a security experiences a large upward or downward movement, followed by a brief consolidation, before continuing to move in the same direction.

Is pennant bullish or bearish?
Bullish vs bearish pennants: what's the difference?
Bullish pennants Bearish pennants
Indicate the continuation of a bull market Indicate the continuation of a bear market
Break out when the market moves beyond its resistance line Break out when the market moves beyond its support line

Why is a pennant bullish?
A bullish pennant is a technical trading pattern that indicates the impending continuation of a strong upward price move. They're formed when a market makes an extensive move higher, then pauses and consolidates between converging support and resistance lines.

How do you trade a Pennant chart pattern?
As soon as enough sellers jump in, the price breaks below the bottom of the pennant and continues to move down. As you can see, the drop resumed after the price made a breakout to the bottom. To trade this chart pattern, we'd put a short order at the bottom of the pennant with a stop loss above the pennant.

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