These stocks, Medicis Pharmaceutical Corp, Enerplus Corporation, Morningstar Inc, PIMCO Municipal Income Fund III, and Enterprise Products Partners LP, have been showing ascending triangle patterns on June 29. 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 Medicis Pharmaceutical Corp (MRX) traded higher by 0.21% or $0.08/share to $37.9. In the past year, the shares have traded as low as $21.13 and as high as $38.52. On average, 1034810 shares of MRX exchange hands on a given day and today's volume is recorded at 433952.
Shares of Enerplus Corporation (ERF) traded higher by 2.08% or $0.64/share to $31.53. In the past year, the shares have traded as low as $19.36 and as high as $32.46. On average, 778170 shares of ERF exchange hands on a given day and today's volume is recorded at 477546.
Shares of Morningstar Inc (MORN) traded higher by 0.18% or $0.11/share to $60.34. In the past year, the shares have traded as low as $39.54 and as high as $60.94. On average, 73120 shares of MORN exchange hands on a given day and today's volume is recorded at 38490.
Shares of PIMCO Municipal Income Fund III (PMX) traded higher by 0.09% or $0.01/share to $10.68. In the past year, the shares have traded as low as $9.00 and as high as $11.35. On average, 74810 shares of PMX exchange hands on a given day and today's volume is recorded at 33935.
Shares of Enterprise Products Partners LP (EPD) traded higher by 1.84% or $0.77/share to $42.86. In the past year, the shares have traded as low as $32.33 and as high as $43.74. On average, 1225800 shares of EPD exchange hands on a given day and today's volume is recorded at 912500.
