`L` is a non-empty list of positive integers that is already defined. Consider the following snippet of code:
```
flag1, flag2 = True, True
for i in range(1, len(L)):
if L[i] > L[i - 1]:
flag2 = False
elif L[i] < L[i - 1]:
flag1 = False
if flag1:
print('one')
elif flag2:
print('two')
else:
print('three')
```
What is the output of the code if `L = [296, 288, 120, 710, 50, 27, 15]`?