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pennant definition - finance
A term used in technical analysis to refer to a pattern created by price movements. When the price points are connected, the pattern looks like a pennant. Pennants are created by a sharp initial move upwards or downwards, followed by a limited trading range, which creates a shape like a pennant after the upward and downward trendlines merge. Usually these are short-lived patterns lasting only a few weeks.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

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