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Learn about technical analysis methods, such as classic patterns, traders use to help identify stock and ETF trends, resistance levels and target prices.
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Head and shoulders

(Figure 1: Head and shoulders top) A head and shoulders top occurs at the end bullish uptrend, characterized by a left shoulder, head and right shoulder.

Figure 1: Head and shoulders top


(Figure 2: Bullish ascending continuation triangle) Bullish uptrend is in place. The upper level of resistance and the lower level of support converge to show a continuing uptrend.

Figure 2: Bullish ascending continuation triangle

Flags and pennants

(Figure 3: Bullish flag) Flagpole shows bullish uptrend is in place. Resistance and support lines show a continuing uptrend.

Figure 3: Bullish flag

(Figure 4: Calculating target price from a classic pattern) Measuring and adding the pattern height to the confirmation price gives an estimated target price for the pattern.

Figure 4: Calculating target price from a classic pattern

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