A belt hold in trading is a Technical Analysis - 20230221094216 pattern that occurs when a stock price opens higher and then remains at or near the opening price for a significant amount of time, forming a horizontal or slightly upward-slanting bar on a bar chart. The pattern is called a belt hold because it resembles a belt, with the opening price being the buckle and the price range being the belt.
The belt hold pattern is often considered a bullish pattern, as it suggests that buyers are showing strength by holding the stock price near the opening level. However, the pattern is not a guarantee of future price movements, and traders should consider other technical indicators and market conditions before making any investment decisions.
Traders often look for other technical indicators to confirm the strength of the belt hold pattern. For example, they may look for a high volume of trades during the period of the belt hold, which would suggest that there is significant buying activity in the stock. They may also look for other bullish indicators, such as a positive trend in the stock's moving average or a bullish cross of the stock's moving average.
Status:: #wiki/notes/mature
Plantations:: Candlestick Patterns
References:: L'art du trading