High tight flag chart pattern forms when a stock rises over 90% (preferably 100%) or more in two months, then consolidates sideways for 15-25 days with a decline of no more than 25%. When there's a breakout of the sideways 'flag' on high volume , the powerful uptrend often resumes.
The entry point is either as the stock breaks the high of the flag or breaks a downtrend line - but only ever on higher than average volume.
Looking for an entry on a breakout above either of the two dotted lines on high volume only.
One negative is the increasing ATR in the flag making a low-risk entry pivot harder to define, reflecting the erratic market action of the past week. But on the plus side, great riding up of the moving averages and not extended from any of them at all.
The entry point is either as the stock breaks the high of the flag or breaks a downtrend line - but only ever on higher than average volume.
Looking for an entry on a breakout above either of the two dotted lines on high volume only.
One negative is the increasing ATR in the flag making a low-risk entry pivot harder to define, reflecting the erratic market action of the past week. But on the plus side, great riding up of the moving averages and not extended from any of them at all.