These stocks, Eaton Vance Tax-Advantaged Dividend Income Fund, Georgia Gulf Corp, First Busey Corporation, Cimarex Energy Co, and Pioneer Floating Rate Trust, have been showing ascending triangle patterns on January 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 Eaton Vance Tax-Advantaged Dividend Income Fund (EVT) traded higher by 0.14% or $0.02/share to $14.81. In the past year, the shares have traded as low as $12.27 and as high as $17.09. On average, 221890 shares of EVT exchange hands on a given day and today's volume is recorded at 232552.
Shares of Georgia Gulf Corp (GGC) traded higher by 1.73% or $0.36/share to $21.11. In the past year, the shares have traded as low as $12.19 and as high as $40.59. On average, 486080 shares of GGC exchange hands on a given day and today's volume is recorded at 227265.
Shares of First Busey Corporation (BUSE) fell by 1.17% or $-0.06/share to $5.06. In the past year, the shares have traded as low as $3.73 and as high as $5.57. On average, 187520 shares of BUSE exchange hands on a given day and today's volume is recorded at 57407.
Shares of Cimarex Energy Co (XEC) fell by 2.94% or $-1.94/share to $63.9. In the past year, the shares have traded as low as $50.71 and as high as $117.46. On average, 1130980 shares of XEC exchange hands on a given day and today's volume is recorded at 1097044.
Shares of Pioneer Floating Rate Trust (PHD) fell by 0.64% or $-0.08/share to $12.37. In the past year, the shares have traded as low as $10.90 and as high as $13.78. On average, 88910 shares of PHD exchange hands on a given day and today's volume is recorded at 56200.
