These stocks, Enerplus Corporation, Carter's, Inc, and Emergent BioSolutions, Inc, have been showing ascending triangle patterns on July 5. 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 Enerplus Corporation (ERF) traded higher by 0.73% or $0.23/share to $31.9. In the past year, the shares have traded as low as $19.64 and as high as $32.46. On average, 787220 shares of ERF exchange hands on a given day and today's volume is recorded at 593819.
Shares of Carter's, Inc (CRI) fell by 0.13% or $-0.04/share to $31.27. In the past year, the shares have traded as low as $22.19 and as high as $32.88. On average, 733990 shares of CRI exchange hands on a given day and today's volume is recorded at 190682.
Shares of Emergent BioSolutions, Inc (EBS) remained unchanged at $22.47. In the past year, the shares have traded as low as $14.86 and as high as $26.41. On average, 237250 shares of EBS exchange hands on a given day and today's volume is recorded at 53994.
