![]() Through this pattern, the traders identify potential breakdowns in the stock. However, the stock moves in a range due to constant selling pressure on the rise. The pattern signifies that buyers are aggressively trying to change the primary trend (down) by creating more demand for the stock. ![]() ![]() This is considered the flag part of the flag and pole pattern. Later, the price moves into the sideways range, attempts to change the trend and starts moving upwards with little to no momentum. In this pattern, the price makes a sharp move in one direction, reminding the viewer of a pole on a flagpole. A flag and pole pattern describes a specific chart formation used to identify the continuation of a previous trend from a point at which the price moved against the same trend.
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