These stocks, iShares S&P Global Materials, CAE Inc, Harsco Corporation, UBS AG, and Approach Resources, Inc, have been showing ascending triangle patterns on May 7. 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 iShares S&P Global Materials (MXI) traded higher by 0.03% or $0.02/share to $59.77. In the past year, the shares have traded as low as $49.85 and as high as $74.46. On average, 64910 shares of MXI exchange hands on a given day and today's volume is recorded at 36331.
Shares of CAE Inc (CAE) fell by 1.14% or $-0.12/share to $10.25. In the past year, the shares have traded as low as $8.43 and as high as $13.46. On average, 17750 shares of CAE exchange hands on a given day and today's volume is recorded at 13800.
Shares of Harsco Corporation (HSC) traded higher by 0.82% or $0.16/share to $19.68. In the past year, the shares have traded as low as $17.26 and as high as $33.69. On average, 631560 shares of HSC exchange hands on a given day and today's volume is recorded at 976509.
Shares of UBS AG (UBS) fell by 0.08% or $-0.01/share to $12.42. In the past year, the shares have traded as low as $10.41 and as high as $19.62. On average, 4075300 shares of UBS exchange hands on a given day and today's volume is recorded at 2737986.
Shares of Approach Resources, Inc (AREX) fell by 0.06% or $-0.02/share to $32.17. In the past year, the shares have traded as low as $14.14 and as high as $39.18. On average, 513530 shares of AREX exchange hands on a given day and today's volume is recorded at 405596.
