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 June 22, 2012.
Ticker Company MSL Midsouth Bancorp Inc.
QCOR Questcor Pharmaceuticals, Inc.
GTE Gran Tierra Energy, Inc.
WSBC WesBanco Inc.
WBCO Washington Banking Co.
ONXX Onyx Pharmaceuticals, Inc.
LPX Louisiana-Pacific Corp.
ESGR Enstar Group Limited
POOL Pool Corp.
PNM PNM Resources, Inc.
RGC REGAL ENTERTAINMENT GROUP
UBNK United Financial Bancorp
CLDT Chatham Lodging Trust
PSEC Prospect Capital Corporation
CRI Carter's, Inc.
XL XL Group plc
RAI Reynolds American Inc.
HCN Health Care REIT, Inc.
AVD American Vanguard Corp.
NWL Newell Rubbermaid Inc.
ROLL RBC Bearings Inc.
BBSI Barrett Business Services Inc.
PRAA Portfolio Recovery Associates Inc.
SIFI SI Financial Group Inc.
FRS Frisch's Restaurants Inc.
