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 23, 2012.
Ticker Company FST Forest Oil Corp.
GDP Goodrich Petroleum Corp.
TC Thompson Creek Metals Company Inc.
NAV Navistar International Corporation
NBL Noble Energy, Inc.
PBR-A Petroleo Brasileiro
EOG EOG Resources, Inc.
CIE Cobalt International Energy, Inc.
PPL PPL Corporation
ASML ASML Holding NV
NG NovaGold Resources Inc.
ESV Ensco plc
SU Suncor Energy Inc.
STO Statoil ASA
BHP BHP Billiton Ltd.
LINE Linn Energy, LLC
KR The Kroger Co.
IVR Invesco Mortgage Capital Inc.
OC Owens Corning
TEX Terex Corp.
EA Electronic Arts Inc.
TDC Teradata Corporation
AKS AK Steel Holding Corporation
JBL Jabil Circuit Inc.
CTSH Cognizant Technology Solutions Corporation
VSH Vishay Intertechnology Inc.
MMM 3M Co.
CI Cigna Corp.
MCHP Microchip Technology Inc.
HCN Health Care REIT, Inc.
DE Deere & Company
KSS Kohl's Corp.
