These stocks, Quest Diagnostics Inc, Emergent BioSolutions, Inc, and McGrath Rentcorp, have been showing ascending triangle patterns on June 26. This pattern is a bullish formation that usually forms at the time of a upswing as a continuation pattern. Key characteristics that investors can look out for are trend patterns, duration and volume. In order for the pattern to be a continuation, an established pattern should exist. Since the pattern is bullish, the length and duration do not matter. What is important is the robustness of the formation. As mentioned, duration is not that important, but the average pattern lasts 1 to 2 month. As the pattern develops volume contracts and once the stock hits a break point, volume usually expands. The expansion confirms the breakout. This stock has been on a upswing, thus allowing investors to identify a resistance point. Investors may wan to consider going bearish on a breakpoint above the resistance point.
Shares of Quest Diagnostics Inc (DGX) fell by 1.36% or $-0.82/share to $59.41. In the past year, the shares have traded as low as $43.14 and as high as $61.21. On average, 1549720 shares of DGX exchange hands on a given day and today's volume is recorded at 1906338.
Shares of Emergent BioSolutions, Inc (EBS) fell by 0.45% or $-0.10/share to $21.91. In the past year, the shares have traded as low as $14.86 and as high as $26.41. On average, 234460 shares of EBS exchange hands on a given day and today's volume is recorded at 513509.
Shares of McGrath Rentcorp (MGRC) fell by 0.99% or $-0.27/share to $27.01. In the past year, the shares have traded as low as $19.41 and as high as $28.73. On average, 54430 shares of MGRC exchange hands on a given day and today's volume is recorded at 105737.
