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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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.
Take a look other Today's Big Movers of the day Right here.You can also check previous stocks to buy reports- Right Here
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Below these are the Bullish Ascending Triangle Pattern stocks on November 19, 2012.
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.
