These stocks, Carter's, Inc, Enerplus Corporation, Owens Corning, Enterprise Products Partners LP, and McGrath Rentcorp, have been showing ascending triangle patterns on July 1. 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 Carter's, Inc (CRI) traded higher by 1.76% or $0.54/share to $31.3. In the past year, the shares have traded as low as $22.19 and as high as $32.88. On average, 726950 shares of CRI exchange hands on a given day and today's volume is recorded at 344884.
Shares of Enerplus Corporation (ERF) traded higher by 0.19% or $0.06/share to $31.66. In the past year, the shares have traded as low as $19.36 and as high as $32.47. On average, 785530 shares of ERF exchange hands on a given day and today's volume is recorded at 356084.
Shares of Owens Corning (OC) traded higher by 2.12% or $0.79/share to $38.14. In the past year, the shares have traded as low as $23.05 and as high as $38.87. On average, 1376180 shares of OC exchange hands on a given day and today's volume is recorded at 1013145.
Shares of Enterprise Products Partners LP (EPD) traded higher by 0.09% or $0.04/share to $43.25. In the past year, the shares have traded as low as $32.33 and as high as $43.74. On average, 1235490 shares of EPD exchange hands on a given day and today's volume is recorded at 794194.
Shares of McGrath Rentcorp (MGRC) traded higher by 2.74% or $0.77/share to $28.85. In the past year, the shares have traded as low as $19.41 and as high as $28.73. On average, 54020 shares of MGRC exchange hands on a given day and today's volume is recorded at 13700.
