RE:pennant formation Yeah, this looks like a pennant alright. Although this being a penny stock, not sure if it's relevant.....
BREAKING DOWN 'Pennant'
Pennants, which are similar to flags in terms of structure, have converging trendlines during their consolidation period and they last from one to three weeks. The volume at each period of the pennant is also important. The initial move must be met with large volume while the pennant should have weakening volume, followed by a large increase in volume during the breakout.
https://i.investopedia.com/inv/dictionary/terms/Pennant.gif