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Definition

A charting formation where the price chart forms a pattern which looks something like a triangle. The difference between a pennant and a triangle is the length of time that the formation occurs for. A pennant is more short term, usually lasting between one and three weeks. A triangle occurs over a longer period of time and can last up to three or six months. A triangle could also signal the reverse of a trend, whereas a pennant is more than likely a continuation signal and signifies that the trend will continue in the already established direction it is going. The general rule with the triangle is that it will continue in the direction in which it breaks out.
<figure class="container-fluid"><img class="img-responsive" style="display: block; margin: 0 auto; max-width: 100%;" src="/onlinecourse/img/glossary/Bullish-Pennant-e1494506078503.jpg" alt="Bullish Pennant" />
<figcaption style="text-align: center;">Bullish Pennant</figcaption>
</figure>

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