Morning all. @Cash-Flow I should really offer you a more respectful response incase you thought I was offended. I wasn't. This was a little bit of "Tongue in Cheek" or more a bit of joking. Quite some time ago, @SethDavis made a reference in a loose term which is what I quoted, "one of those flaggy things". It really had no fixed meaning to a specific pattern. I do however Find it bullish no matter what anyone chooses to call it. Here are a few examples.
I could call this an upward sloping channel and I would consider that bullish, more so if it breaks above that channel.
Here I could call this a pennant, yet referred to as a High and Tight flag by Jason Shapiro. I also have respect for this guy because of his success rate and "go it alone" attitude. Also very bullish chart pattern but I would call it a pennant because I understand a High and Tight as something completely different.
Here is another example of a chart read. This could be called a double pennant which I would also consider bullish. The second touch of that bottom trend line was the CR ann day and then it bounced. I could also consider the bull spread on all those moving averages, also again a bullish sign.
If I consider the top chart which I think is the most relevant here, then I have to expect it to retrace a little, especially after yesterdays performance. I had better be careful with that assumption because it could break right through that top line.
Just some musings here and take it with a grain. It is worth researching the High and Tight flag however. One more thing to add, I consider a break above 43.5c as a break from the channel.
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