Rising Wedge Is a Bearish Pattern

The rising wedge is a bearish upside pattern that forms when the rate of increase of successive highs is less than the rate of increase of successive lows. The highs and lows in the rising wedge tend to converge.

AnnTaylor Stores (ANN), a women’s apparel specialty retailer, formed a rising wedge before it moved to the downside.

KLA-Tencor (KLAC) moved to the downside after forming a rising wedge.