Let me admit here something - (let's say) I am a complete novice if it comes to TA... so what do I do ? I google bear flag and what do I get :
The bear flag pattern is found in a downtrending stock. This pattern is named for the resemblance of an inverted flag on a pole. The bear flag is a continuation pattern which only slightly retraces the decline preceding it. The technical sell point is when price penetrates the lower trend line of the flag area, ideally on volume expansion.
On the top of that we all know that bear flags are mostly found in bear trend + PLUS +
The height of the flagpole may be subtracted from the breakout area at the end of the flag to determine the expected decline which follows. This is why the bear flag pattern is often found in the middle of stock declines.
Now a bit smarter I think I'm not exactly going to sound like Nostradamus by saying - we're still going down people.
The bear flag pattern is found in a downtrending stock. This pattern is named for the resemblance of an inverted flag on a pole. The bear flag is a continuation pattern which only slightly retraces the decline preceding it. The technical sell point is when price penetrates the lower trend line of the flag area, ideally on volume expansion.
On the top of that we all know that bear flags are mostly found in bear trend + PLUS +
The height of the flagpole may be subtracted from the breakout area at the end of the flag to determine the expected decline which follows. This is why the bear flag pattern is often found in the middle of stock declines.
Now a bit smarter I think I'm not exactly going to sound like Nostradamus by saying - we're still going down people.