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ZEEL : Flag and Pole pattern
ZEEL formed Flag and pole pattern and there is breakout
In trading, the "flag and pole" pattern is a technical analysis pattern that is commonly used to identify potential continuation moves in the price of an asset. It is considered a continuation pattern because it usually occurs in the middle of a strong trend and suggests that the previous trend is likely to continue after a brief consolidation.
The flag pole is the initial strong and sharp price movement in a certain direction. It can be either an upward or downward movement.
This rapid price movement represents a strong market sentiment and often occurs due to a significant event or news.
Following the flag pole, there is a consolidation or a retracement in the opposite direction. This forms the flag.
The flag is characterized by a rectangular-shaped price pattern that slopes against the prevailing trend.
The continuation of the previous trend is expected after the formation of the flag.
Traders often anticipate a breakout in the direction of the initial flag pole movement.
- there is strong bull run in the stock followed by the flag pattern
- you can see the volume accumulation
- Flag breakout
In trading, the "flag and pole" pattern is a technical analysis pattern that is commonly used to identify potential continuation moves in the price of an asset. It is considered a continuation pattern because it usually occurs in the middle of a strong trend and suggests that the previous trend is likely to continue after a brief consolidation.
- Flag Pole:
The flag pole is the initial strong and sharp price movement in a certain direction. It can be either an upward or downward movement.
This rapid price movement represents a strong market sentiment and often occurs due to a significant event or news.
- Flag :
Following the flag pole, there is a consolidation or a retracement in the opposite direction. This forms the flag.
The flag is characterized by a rectangular-shaped price pattern that slopes against the prevailing trend.
- Continuation :
The continuation of the previous trend is expected after the formation of the flag.
Traders often anticipate a breakout in the direction of the initial flag pole movement.
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