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.
Take a look other Today's Big Movers of the day Right here.You can also check previous stocks to buy reports- Right Here
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 January 11, 2013.
PLCM Polycom, Inc.
MWV MeadWestvaco Corporation
HNT Health Net, Inc.
LEG Leggett & Platt, Incorporated
KMB Kimberly-Clark Corporation
ABM ABM Industries Inc.
FBP First Bancorp
IRE The Governor and Company of The Bank of Ireland
ROVI Rovi Corporation
GCI Gannett Co., Inc.
NU Northeast Utilities
FNP Fifth & Pacific Companies, Inc.
KBH KB Home
FLR Fluor Corporation
BMR BioMed Realty Trust Inc.
AMGN Amgen Inc.
FHN First Horizon National Corporation
FWLT Foster Wheeler AG
CHU China Unicom (Hong Kong) Limited
AUQ AuRico Gold Inc.
