These stocks, Quality Distribution Inc, Cass Information Systems Inc, On Assignment Inc, Southern Company, and Pearson plc, have been showing ascending triangle patterns on August 7. 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 Quality Distribution Inc (QLTY) traded higher by 2.17% or $0.27/share to $12.69. In the past year, the shares have traded as low as $4.60 and as high as $13.65. On average, 129150 shares of QLTY exchange hands on a given day and today's volume is recorded at 276057.
Shares of Cass Information Systems Inc (CASS) traded higher by 0.56% or $0.20/share to $36.21. In the past year, the shares have traded as low as $31.67 and as high as $40.16. On average, 31320 shares of CASS exchange hands on a given day and today's volume is recorded at 15336.
Shares of On Assignment Inc (ASGN) fell by 2.50% or $-0.25/share to $9.77. In the past year, the shares have traded as low as $4.18 and as high as $11.67. On average, 193860 shares of ASGN exchange hands on a given day and today's volume is recorded at 411121.
Shares of Southern Company (SO) traded higher by 1.50% or $0.59/share to $39.87. In the past year, the shares have traded as low as $33.54 and as high as $40.39. On average, 3917040 shares of SO exchange hands on a given day and today's volume is recorded at 14082087.
Shares of Pearson plc (PSO) traded higher by 1.23% or $0.22/share to $18.08. In the past year, the shares have traded as low as $14.04 and as high as $19.53. On average, 178480 shares of PSO exchange hands on a given day and today's volume is recorded at 675600.
