The Flat Base pattern is a chart pattern observed in technical analysis that indicates a period of consolidation, where the stock price moves sideways within a narrow range after a significant upward trend. This pattern typically forms over at least five to six weeks, with the stock price fluctuating less than 15% from its high to its low during this period. The flat base pattern suggests a potential continuation of the prior trend once the stock breaks out of this consolidation phase.

An intraday Flat Base pattern is similar to the daily or longer-term Flat Base pattern but occurs within a single trading day. Here’s what it would look like and how you can identify and trade it: