Here's an opportunity to watch the volume decrease just before the channel narrows. We should see RSI drop before the breakout. This is a 3h chart so you have time to get in. I'll be in at the last bottom before the narrowing of the Pennant.
A pennant is created when there is a significant movement in the stock, followed by a period of consolidation – this creates the pennant shape due to the converging lines. A breakout movement then occurs in the same direction as the big stock move. These are similar to flag patterns and tend to last between one and three weeks. There will be significant volume at the initial stock movement, followed by weaker volume in the pennant section, and growth in volume at the breakout.
A pennant is created when there is a significant movement in the stock, followed by a period of consolidation – this creates the pennant shape due to the converging lines. A breakout movement then occurs in the same direction as the big stock move. These are similar to flag patterns and tend to last between one and three weeks. There will be significant volume at the initial stock movement, followed by weaker volume in the pennant section, and growth in volume at the breakout.