Definition of 'Ascending Triangle'
A bullish chart pattern used in technical analysis that is easily recognizable by the distinct shape created by two trendlines. In an ascending triangle, one trendline is drawn horizontally at a level that has historically prevented the price from heading higher, while the second trendline connects a series of increasing troughs. Traders enter into long positions when the price of the asset breaks above the top resistance.
The ascending triangle is a bullish formation that usually forms during an uptrend as a continuation pattern. There are instances when ascending triangles form as reversal patterns at the end of a downtrend, but they are typically continuation patterns. Regardless of where they form, ascending triangles are bullish patterns that indicate accumulation
A bullish chart pattern used in technical analysis that is easily recognizable by the distinct shape created by two trendlines. In an ascending triangle, one trendline is drawn horizontally at a level that has historically prevented the price from heading higher, while the second trendline connects a series of increasing troughs. Traders enter into long positions when the price of the asset breaks above the top resistance.
The ascending triangle is a bullish formation that usually forms during an uptrend as a continuation pattern. There are instances when ascending triangles form as reversal patterns at the end of a downtrend, but they are typically continuation patterns. Regardless of where they form, ascending triangles are bullish patterns that indicate accumulation
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Below these are the Bullish Ascending Triangle Pattern stocks on January 13, 2012.
Ticker Company GGC Georgia Gulf Corp.
BKU BankUnited, Inc.
FITB Fifth Third Bancorp
MSI Motorola Solutions, Inc.
CFN CareFusion Corporation
SEE Sealed Air Corporation
WTR Aqua America Inc.
MMM 3M Co.
INTU Intuit Inc.
XEC Cimarex Energy Co.
LEAP Leap Wireless International Inc.
SEIC SEI Investments Co.
SWFT Swift Transportation Company
NWSA News Corp.
DOW The Dow Chemical Company
CNI Canadian National Railway Company
UL Unilever plc
JBL Jabil Circuit Inc.
ONNN ON Semiconductor Corp.
GDP Goodrich Petroleum Corp.
AKS AK Steel Holding Corporation
SPN Superior Energy Services, Inc.
AOL AOL, Inc.
