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Friday, November 23, 2012

Stocks to Watch Bullish Ascending Triangle on November 26, 2012

Definition of 'Ascending Triangle'
A bullish chart pattern used in technical analysis that is easily recognizable by the distinct shape created by two trend lines. In an ascending triangle, one trend line 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 November 19, 2012.

Ticker     Company    
CIM    Chimera Investment Corporation
LLTC    Linear Technology Corp.
ADBE    Adobe Systems Inc.
PX    Praxair Inc.
IBKR    Interactive Brokers Group, Inc.
EMR    Emerson Electric Co.
FAST    Fastenal Company
TRW    TRW Automotive Holdings Corp.
NFX    Newfield Exploration Co.
CMC    Commercial Metals Company
SWHC    Smith & Wesson Holding Corporation
CMS    CMS Energy Corp.
FSLR    First Solar, Inc.
X    United States Steel Corp.
HLF    Herbalife Ltd.
SRE    Sempra Energy
GNOM    Complete Genomics, Inc.

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