These stocks, Georgia Gulf Corp, Cytec Industries Inc, Aspen Insurance Holdings Ltd, CareFusion Corporation, and Piper Jaffray Companies, 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 Georgia Gulf Corp (GGC) remained unchanged at $21.48. In the past year, the shares have traded as low as $12.19 and as high as $40.59. On average, 475530 shares of GGC exchange hands on a given day and today's volume is recorded at 177721.
Shares of Cytec Industries Inc (CYT) traded higher by 1.34% or $0.64/share to $48.29. In the past year, the shares have traded as low as $31.93 and as high as $59.66. On average, 664090 shares of CYT exchange hands on a given day and today's volume is recorded at 408477.
Shares of Aspen Insurance Holdings Ltd (AHL) fell by 0.45% or $-0.12/share to $26.83. In the past year, the shares have traded as low as $21.87 and as high as $30.88. On average, 446570 shares of AHL exchange hands on a given day and today's volume is recorded at 187309.
Shares of CareFusion Corporation (CFN) fell by 9.14% or $-2.33/share to $23.15. In the past year, the shares have traded as low as $22.01 and as high as $29.97. On average, 1584240 shares of CFN exchange hands on a given day and today's volume is recorded at 7695545.
Shares of Piper Jaffray Companies (PJC) traded higher by 1.72% or $0.37/share to $21.59. In the past year, the shares have traded as low as $16.72 and as high as $44.55. On average, 205100 shares of PJC exchange hands on a given day and today's volume is recorded at 129650.
