Real-time pattern trading is the easiest way to find entry and exit prices if you can scan thousands of stocks and ETFs within minutes. It is definitely impossible for humans. Artificial Intelligence (A.I.) not only discovers these patterns, but also checks if they worked out well in the past. Knowing the success rate in the past allows A.I. to establish the odds of success in the future.
The Rising Pennant (or Bullish Pennant) pattern looks like a pennant with a mast. It forms when rising prices experience a consolidation period, and the price moves within a narrow range defined by the converging lines through points (2, 4) and (3, 5). After the consolidation, the previous trend resumes.
This type of formation happens when anticipation of an uptrend is high, and when the price of a security consolidates within a range. It indicates growing investor interest in a potentially explosive uptrend.
Trade idea
Once the price breaks out from the top pattern boundary, day traders and swing traders should trade with an UP trend. Consider buying a security or a call option at the breakout. The breakout price level for the Rising Pennant pattern is the last point touching the top line (4). To identify an exit, compute the target price by adding the initial rise between points 1 and 2 to the breakout price. When trading, wait for the confirmation move, which is when the price rises above the breakout level.
To limit potential loss when price suddenly goes in the wrong direction, consider placing a stop order to sell at or below the breakout price.
Time frames No matter your trading strategy (day trading, swing, etc), we have patterns that will be ready to trade.
STIM - Neuronetics Inc
STATUS | Emerged |
---|---|
CURRENT CONFIDENCE | 67% |
TARGET (EXIT) PRICE | 9.70 USD |
BREAKOUT (ENTRY) PRICE | 8.70 USD |
DISTANCE TO TARGET PRICE | 12.56% |
EMERGED ON | Aug 06, closing price |
WITH CONFIDENCE LEVEL | 67% |
AB - AllianceBernstein Holding Lp - Unit
STATUS | Emerged |
---|---|
CURRENT CONFIDENCE | 58% |
TARGET (EXIT) PRICE | 50.83 USD |
BREAKOUT (ENTRY) PRICE | 50.04 USD |
DISTANCE TO TARGET PRICE | 1.71% |
EMERGED ON | Aug 06, closing price |
WITH CONFIDENCE LEVEL | 58% |
CLDT - Chatham Lodging Trust
STATUS | Emerged |
---|---|
CURRENT CONFIDENCE | 55% |
TARGET (EXIT) PRICE | 12.33 USD |
BREAKOUT (ENTRY) PRICE | 11.90 USD |
DISTANCE TO TARGET PRICE | 3.83% |
EMERGED ON | Aug 06, closing price |
WITH CONFIDENCE LEVEL | 55% |
ADP - Automatic Data Processing Inc.
STATUS | Emerged |
---|---|
CURRENT CONFIDENCE | 62% |
TARGET (EXIT) PRICE | 217.24 USD |
BREAKOUT (ENTRY) PRICE | 213.29 USD |
DISTANCE TO TARGET PRICE | 1.99% |
EMERGED ON | Aug 06, closing price |
WITH CONFIDENCE LEVEL | 62% |