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 trend line 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 trend line 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 February 22, 2013.
SSTK Shutterstock, Inc.
EGY Vaalco Energy Inc.
AXU Alexco Resource Corporation
SCHN Schnitzer Steel Industries Inc.
FMBI First Midwest Bancorp Inc.
DEI Douglas Emmett Inc
NU Northeast Utilities
BAX Baxter International Inc.
ACXM Acxiom Corporation
EL Estee Lauder Companies Inc.
MSCC Microsemi Corp.
IL IntraLinks Holdings, Inc.
DNB Dun & Bradstreet Corp.
BPZ BPZ Resources, Inc.
AH Accretive Health, Inc.
COH Coach, Inc.
WLT Walter Energy, Inc.
NEO Neogenomics Inc.
