InterDigital Inc forms bullish "Flag" chart pattern

2008-11-24 16:00 PM ET

New York, NY.   A "Flag (Bullish)" chart pattern formed on InterDigital Inc (NASDAQ Stock Exchange). This bullish signal indicates that the price may rise from the close of 25.68 to the range of 28.50 - 30.00. The pattern formed over 10 days which is roughly the period of time in which the target price range may be achieved.

A Flag (Bullish) is considered a bullish signal, indicating that the longer term uptrend may continue. After a steep rise in price, the pennant reflects a temporary pause in the uptrend, consisting of two parallel trendlines that form a rectangular flag shape.

This bullish pattern can be seen on the following chart.

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