Definition
Bull Pennant is similar to bull flag but the consolidation forms a small symmetrical triangle instead of parallel lines. It shows tighter compression before continuation. Typically forms over 1-3 weeks with decreasing volume before breakout.
Formula
Price Target = Breakout Point + Flagpole Length
Example
Stock rallies from $30 to $40 then forms a small triangle consolidating between $38-$40. Breakout above $40 targets $50 (flagpole of $10).
FAQ
What is Bull Pennant?
A bullish continuation pattern with a sharp rise followed by converging trendlines.
How do you calculate Bull Pennant?
A common formula for Bull Pennant is: Price Target = Breakout Point + Flagpole Length
Why is Bull Pennant important?
Bull Pennant helps investors evaluate chart patterns and make more informed decisions.