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Bearish Pennant Scanner
| Code | Price | Chart Patterns | Chart | |||||
|---|---|---|---|---|---|---|---|---|
| BALUFORGE | 440.35 | [Bearish Pennant] | ||||||
| DEVYANI | 114.18 | [Bearish Pennant] | ||||||
| GODFRYPHLP | 2133.4 | [Bearish Pennant] | ||||||
| HBLENGINE | 718.7 | [Bearish Pennant] | ||||||
| JWL | 259.2 | [Bearish Pennant] | ||||||
| LATENTVIEW | 316.2 | [Bearish Pennant] | ||||||
| SIGNATURE | 820.45 | [Bearish Pennant] | ||||||
| SKFINDIA | 1479.6 | [Bearish Pennant] | ||||||
| UCOBANK | 26.17 | [Bearish Pennant] |
Bearish Pennant Scanner
What is a Bearish Pennant?
Bearish Pennant is a continuation pattern that forms after a strong downward move. It represents a brief consolidation in the form of a small symmetrical triangle (pennant), followed by a continuation of the bearish trend when price breaks below the support zone.
How the Bearish Pennant Pattern Forms
- Price experiences a sharp and strong downward move forming the flagpole.
- Market enters a small converging consolidation phase.
- Volatility reduces as price compresses into a tight triangular structure.
- Buying attempts are weak and fail to reverse the trend.
- A breakdown below the pennant confirms bearish continuation.
Trading Strategy
- Wait for a confirmed breakdown below the lower trendline of the pennant.
- Enter short positions after breakout confirmation.
- Place stop-loss above the upper trendline of the pennant.
- Measure flagpole height to estimate downside target.
- Use volume expansion on breakdown for stronger confirmation.
Advantages
- Identifies strong bearish continuation setups.
- Provides clear entry, stop-loss, and target levels.
- Works well in trending and volatile markets.
TSR Scanner Features
- Real-Time Alerts: Detects pennant breakdown instantly.
- Fine-Tune Filter: Combine with volume and TSR strength index for accuracy.
- Custom Tracking: Monitor selected stocks or watchlists.
- Backtesting Capabilities: Analyze historical pennant breakdowns.
- Flexible Timeframes: Works across multiple chart intervals.
- Auto Refresh: Keeps scanner updated continuously.
Fine Tune : You can customise these screeners by clicking on 'Fine Tune Filter' Option
Caution : All these screeners are crafted based on some historical scenarios which may / may notbe applicable here. We recommend to fine tune them according to current market conditions or seek expert advise before taking any decision.
