Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.Technical analysts believe that stock prices often trade in patterns, as the motivating driver behind the movement of stocks is humans, and humans exhibit the same emotions when it comes to their money: fear and greed.
While these patterns can be predictable, they aren't bullet-proof. Head fakes, bull traps, and failed breakdowns occur often and tend to shake traders out of their positions right before the big move.Having a plan before entering a position can help traders weather choppy price movements, increasing their chances of riding an uptrend and avoiding a downtrend.
But if the stock broke above the falling resistance and out of its downtrend, a buy signal would be generated. Bearish flags are short-term patterns that ideally last one to four weeks. They typically don't last longer than eight weeks, and usually follow a sharp downtrend.Similar to a bear flag, a bearish pennant is a continuation pattern that consists of a pole and a symmetrical triangle, usually following a downtrend in price.
Source: News Formal (newsformal.com)
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