TEL consolidating, forming a Pennant

TEL is currently consolidating and forming a pattern which is like a Pennant. After it moved up to the 23.6% Fibonacci Retracement level late last month, it started to move sideways but with bullish bias. Is it about to break the silence?

Pennants are short-term continuation patterns that mark a small consolidation before the previous move resumes. These patterns are usually preceded by a sharp advance or decline with heavy volume, and mark a mid-point of the move. -stockcharts.com

Caveat!

One Response to TEL consolidating, forming a Pennant

  1. […] it started to move sideways but with bullish bias. Is it about to break the silence? Caveat! TEL consolidating, forming a Pennant Reply With […]

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