pattern recognition question

would you call this is an ascending triangle pattern? or descending triangle? and is it a bearish or bullish pattern ? thank you

 

I didn't know this is the standard as to what most people consider pattern recognition.

 

MAMA need a charge pattern.

 

Technically, it's called a "wedge". But they all work in the same way, be it wedge, triangle, pennant, etc, so no need for any useless semantics.

 

%%
Penny stock noise trend............

 

You are hiding part of the chart.
Always zoom out and look at the whole chart.


It is not an ascending triangle pattern.

It is not a descending triangle pattern.

It is not a bullish pattern.

It is not a bearish pattern.

It is a sideway / ranging pattern.
It will continue to go sideways until the chart says otherwise.

You did not mention another very important point;
MAMA uptrend started a year ago.

 

I dont put much stock in such short time frame patterns

 

When in doubt zoom out. It looks like a rounding bottom to me.




But whatever the case. This tune is awesome:

 

It's a Flag Pole.