Flag Chart Patterns

Pattern Type : Bull Flag bullish Expectations : Trend Continuation if the stock price breaks or gaps above the resistance line (top trend line). Description : Stock prices run between two evenly spaced trend lines over a short period. The trend lines slope are normally flat to small down slopes.
Pattern Type : Bear Flag bearish Expectations : Trend Continuation if the stock price breaks or gaps below the support line (bottom trend line). Description : Stock prices run between two evenly spaced trend lines over a short period. The trend lines slope are normally flat to small up slopes.
Pattern Type : Horizontal Flag bullish Expectations : New Up Trend if the stock price breaks or gaps above the resistance line (top trend line). Description : Stock prices run between two tightly spaced trend lines. The trend lines can be sloping in a pattern like this, but not steeply. This pattern can be called "breaking out from a consolidatiion".
Pattern Type : Horizontal Flag bearish Expectations : New Down Trend if the stock price breaks or gaps below the support line (bottom trend line). Description : Stock prices run between two tightly spaced trend lines. The trend lines can be sloping in a pattern like this, but not steeply. This pattern can be called "breaking down from a consolidatiion"