Question

Which pattern is usually preceded by a sharp advance or decline with heavy volume and tends to mark the midpoint of the move?

a. outside bar

b. pennant

c. Head and Shoulders Top

d. wedge

Answer 1

Answer (B) :- Pennant

( Explanation :- Pennant is a pattern which is continous in nature and used in the technical analysis of the security/ stock. This pattern is preceded by a sharp advance or decline with heavy volumes and they serve as a mid-point of the move too. Below, i am attaching the picture of the pattern for better understanding.