These stocks, Superior Energy Services, Inc, Cigna Corp, Riverbed Technology, Inc, Nasdaq OMX Group Inc, and HSN, Inc, have been showing ascending triangle patterns on March 27. 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 Superior Energy Services, Inc (SPN) fell by 1.60% or $-0.43/share to $26.44. In the past year, the shares have traded as low as $22.19 and as high as $42.87. On average, 3419110 shares of SPN exchange hands on a given day and today's volume is recorded at 1552351.
Shares of Cigna Corp (CI) traded higher by 0.65% or $0.31/share to $47.28. In the past year, the shares have traded as low as $38.76 and as high as $52.90. On average, 3386350 shares of CI exchange hands on a given day and today's volume is recorded at 2579138.
Shares of Riverbed Technology, Inc (RVBD) fell by 0.89% or $-0.25/share to $27.91. In the past year, the shares have traded as low as $18.33 and as high as $41.83. On average, 3704230 shares of RVBD exchange hands on a given day and today's volume is recorded at 1890521.
Shares of Nasdaq OMX Group Inc (NDAQ) fell by 1.80% or $-0.49/share to $26.69. In the past year, the shares have traded as low as $20.32 and as high as $29.50. On average, 1617760 shares of NDAQ exchange hands on a given day and today's volume is recorded at 743464.
Shares of HSN, Inc (HSNI) traded higher by 0.47% or $0.18/share to $38.47. In the past year, the shares have traded as low as $27.36 and as high as $38.79. On average, 388420 shares of HSNI exchange hands on a given day and today's volume is recorded at 173161.
