Bull Flag

Bull Flag

In technical analysis, an uptrend followed by roughly even trading on heavy volume. A bull flag is likely to be followed by a further rise and is a signal to buy, especially when the even trading begins to break upward. It derives its name from the fact that it looks roughly like a flagpole when plotted on a graph. See also: Bear flag.
References in periodicals archive ?
Now that ViroPharma has earned a Zacks #1 Rank (Strong Buy), this pullback to $37 looks even more interesting than just a bull flag consolidation in the wake of the rumors.
A Bull Flag can be identified a long green candlestick that resembles a flagpole, and a pennant that is identified by two converging trend lines that form a symmetrical triangle.
A Bull Flag is a continuation pattern that generally occurs after a large run up in price.
A Bull Flag is a <strong>bullish continuation pattern</strong>&nbsp;that generally occurs after a large run up in price.
In an uptrend, therefore, the bull flag has a downward slope; in a downtrend, the bear flag slopes upward.