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 SEE Sealed Air Corporation
JBL Jabil Circuit Inc.
CRH CRH plc
DOW The Dow Chemical Company
APC Anadarko Petroleum Corporation
NWSA News Corp.
INTU Intuit Inc.
MSI Motorola Solutions, Inc.
MMM 3M Co.
UL Unilever plc
ONNN ON Semiconductor Corp.
STO Statoil ASA
CNI Canadian National Railway Company
CFN CareFusion Corporation
SPN Superior Energy Services, Inc.
FITB Fifth Third Bancorp
