Stocks with Rising Wedge Pattern
↓ BearishThe Rising Wedge is a bearish pattern where both the support and resistance lines slope upward, but the resistance line rises at a less steep angle, causing the lines to converge. Despite the upward slope, this pattern typically resolves with a downside breakdown.
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Frequently Asked Questions
Why is a Rising Wedge bearish?
Although the price is moving higher, the narrowing range shows that buying pressure is diminishing. The converging lines indicate that buyers are losing momentum, and a breakdown below the lower trendline signals a reversal.