No ... bullish wedges, flags, pennants are continuation patterns so the existing trend needs to HAVE been established.
But consider this chart from this morning after the US close last night - BTK, biotech index. See the similarities?
IMUGENE CHART. TA only, page-24300
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Last
5.2¢ |
Change
-0.001(1.89%) |
Mkt cap ! $382.1M | |||
| Open | High | Low | Value | Volume |
| 5.3¢ | 5.4¢ | 5.2¢ | $216.1K | 4.106M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 31 | 1854997 | 5.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 5.3¢ | 382882 | 4 |
View Market Depth
| Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
| IMU (ASX) Chart |