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Monday, July 9, 2007

FDC: Pennant

I am not so sure if I am seeing a pennant here. But, just gut feeling... I have not taken a position yet. But, I will be observing the market sentiments today.

I am not sure because characteristics of pennant and flag are as follows
1. Volume should be diminishing
2. 1-3 days (for Philippine setting) to form, though textbook it's 1-2weeks

If this is indeed a pennant, breakout should be at 7.7 and target price is at 9.00.

3 comments:

Lucky said...

Hi abby, puro pennant and flags ang habol m ngayon ah....Dahil b sa PA??? nice ride!!

Abby Ongyanco-Lim said...

hi lucky,

yeah nakahiligan ang mga flags/pennants... pero kung may other patterns of course consider pa rin

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