flat_base

In this pattern, there is little movement until the stock breaks out or fails.

The flat base only corrects 8-15% from its high point to its low. But, if the market is falling, but a stock is only moving sideways, this is a sign of resilience.

Requirements
Forms after a prior uptrend of at least 20% after which the stock pauses and finds support in a tight trading range;
A flat base needs only five (5) weeks to form and often follows a prior base breakout (like a cup with handle)

Buy Point
10 cents above the highest point in the base
Ideally, price will break out on volume of at least 50% above average