La-opala Flag formation..?

There seems to be a flag formation taking place in la-opala. With the flag pole from 210-280, the potential upside could be of the range of 340. Need to see how this flag works out.


Please share your thoughts about this.


It is not a classical flag but the bullish pattern continues. After a sharp rise, usually most of stocks tend to undergo some time correction without too much price correction.

Then how can we separate a patterns like this from the classical flag pattern. What are the characteristics of a classic flag pattern that are missing here. Correction after a sharp run up with decreasing volume made me conclude this as flag.


you can google flag pattern and pennant formation and get more details.

flag pattern is more of the shape of a flag and hence named so.

Consolidation post sharp run ups take many formations and flag remains one of the popular ones as the shape is easy to spot.


It is a perfect textbook flag formation, The chart you have put here is bit compressed hence some members would have difference of opinion, I have been doing technicals for a long time, and been writing on TED for a while, This is as good as u will get.


Also just from experience, Flags are best seen on Daily **BAR **charts, rather than any other form.

Thanks for your inputs Hitesh.

And Thanks for the encouraging words Manish. These help esp when they come fromexperiencedinvestors like you.

I am sure, Hitesh must have seen something, which I missed. Didn’t get a chance to refer it. Hope I can find that.

SEAMEC - Flag and pole formation wip