These stocks, United States Steel Corp, AK Steel Holding Corporation, ATMI Inc, Eaton Vance Tax-Advantaged Dividend Income Fund, and Pioneer Floating Rate Trust, have been showing ascending triangle patterns on January 9. 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 United States Steel Corp (X) fell by 1.83% or $-0.50/share to $26.8. In the past year, the shares have traded as low as $18.81 and as high as $63.75. On average, 12678040 shares of X exchange hands on a given day and today's volume is recorded at 6670605.
Shares of AK Steel Holding Corporation (AKS) fell by 0.80% or $-0.07/share to $8.68. In the past year, the shares have traded as low as $5.47 and as high as $17.61. On average, 8685430 shares of AKS exchange hands on a given day and today's volume is recorded at 4665006.
Shares of ATMI Inc (ATMI) traded higher by 0.52% or $0.11/share to $21.38. In the past year, the shares have traded as low as $15.15 and as high as $21.48. On average, 146750 shares of ATMI exchange hands on a given day and today's volume is recorded at 136128.
Shares of Eaton Vance Tax-Advantaged Dividend Income Fund (EVT) traded higher by 0.70% or $0.11/share to $15.26. In the past year, the shares have traded as low as $12.27 and as high as $17.09. On average, 220590 shares of EVT exchange hands on a given day and today's volume is recorded at 193058.
Shares of Pioneer Floating Rate Trust (PHD) fell by 1.04% or $-0.13/share to $12.41. In the past year, the shares have traded as low as $10.90 and as high as $13.78. On average, 86180 shares of PHD exchange hands on a given day and today's volume is recorded at 70219.
