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The flag stock chart pattern forms through a rectangle. The rectangle develops from two trend lines which form the support and resistance until the price breaks out. The flag will have sloping trendlines, and the slope should move in the opposite direction to the...
This pattern is sometimes also called a “saucer bottom” and demonstrates a long-term reversal showing that the stock is moving from a downward trend towards an upward trend instead. It can last any time from several months to years. It is very similar to the cup and...
For a Wedge pattern pullback, the two lines converge. A bullish Wedge chart pattern takes place in an upwards trend, and the lines slope down. It is also known as a Falling Wedge. A bearish Wedge chart pattern is found in a downwards trend, and the lines slope up....