The most fundamental bearish pattern in technical analysis. The pattern looks like a capital letter M, followed by a smaller capital A that takes the price to a new low.

• The strongest and most reliable MA patterns have the right top of the M somewhat higher than the left top. The new high suckers in more amateur longs, creating a stronger move lower when they scramble to cover.
• A failed MA pattern often results in a rally. When the bears fail to complete the bearish pattern, it often marks a shift in control from the bears to the bulls.