A pennant is a type of consolidation pattern in technical analysis that develops after a security experiences a major movement, or the flagpole, followed by a sideways move in price action. During this consolidation period, two diagonal and converging trend lines can be drawn to form what looks like a pennant. At some point when price breaks out of the pennant consolidation, the expectation is that price will resume the movement in the same direction of the previous trend, prior to the consolidation period.
As we all know, 2022 has been a painful year, and it continues to be so. What works during a bearish market are a few strategies: shorts, inverse ETFs, holding cash positions and day trading. Today we take a look at ATXI and see how we day traded it. Watch this video to get the technicals. Good trading! Trading Risk Disclaimer All the information shared is provided for educational purposes only. Any trades placed upon reliance of SharperTrades, LLC are taken at your own risk for your own account. Past performance is no guarantee. While there is great potential for reward trading stocks, cryptos, commodities, options, forex and other trading securities, there is also substantial risk of loss. All trading operations involve high risks of losing your entire investment. You must therefore decide your own suitability to trade. Trading results can never be guaranteed. SharperTrades, LLC is not registered as an investment adviser with any federal or state regulatory agency. This is