These stocks, Sara Lee Corp, ProShares UltraShort DJ-UBS Commodity, ICICI Bank Ltd, Descartes Systems Group Inc, and Interxion Holding NV, have been showing ascending triangle patterns on August 4. 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 Sara Lee Corp (SLE) fell by 2.47% or $-0.47/share to $18.57. In the past year, the shares have traded as low as $12.95 and as high as $20.00. On average, 5225030 shares of SLE exchange hands on a given day and today's volume is recorded at 5235235.
Shares of ProShares UltraShort DJ-UBS Commodity (CMD) traded higher by 5.63% or $2.56/share to $48.06. In the past year, the shares have traded as low as $39.32 and as high as $80.35. On average, 105820 shares of CMD exchange hands on a given day and today's volume is recorded at 31275.
Shares of ICICI Bank Ltd (IBN) fell by 4.41% or $-2.00/share to $43.39. In the past year, the shares have traded as low as $39.72 and as high as $57.45. On average, 1470800 shares of IBN exchange hands on a given day and today's volume is recorded at 1128654.
Shares of Descartes Systems Group Inc (DSGX) fell by 4.59% or $-0.31/share to $6.45. In the past year, the shares have traded as low as $5.48 and as high as $7.44. On average, 15070 shares of DSGX exchange hands on a given day and today's volume is recorded at 8579.
Shares of Interxion Holding NV (INXN) fell by 1.75% or $-0.25/share to $14.03. In the past year, the shares have traded as low as $12.11 and as high as $15.88. On average, 84690 shares of INXN exchange hands on a given day and today's volume is recorded at 20700.
