These stocks, Approach Resources, Inc, Spartan Stores Inc, Kearny Financial Corp, iShares S&P Global Materials, and PNM Resources, Inc, have been showing ascending triangle patterns on May 8. 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 Approach Resources, Inc (AREX) fell by 4.41% or $-1.42/share to $30.78. In the past year, the shares have traded as low as $14.14 and as high as $39.18. On average, 516620 shares of AREX exchange hands on a given day and today's volume is recorded at 763824.
Shares of Spartan Stores Inc (SPTN) traded higher by 0.63% or $0.11/share to $17.67. In the past year, the shares have traded as low as $13.90 and as high as $21.12. On average, 111180 shares of SPTN exchange hands on a given day and today's volume is recorded at 51173.
Shares of Kearny Financial Corp (KRNY) traded higher by 3.33% or $0.31/share to $9.63. In the past year, the shares have traded as low as $7.86 and as high as $10.06. On average, 15180 shares of KRNY exchange hands on a given day and today's volume is recorded at 1444.
Shares of iShares S&P Global Materials (MXI) fell by 1.71% or $-1.02/share to $58.69. In the past year, the shares have traded as low as $49.86 and as high as $74.46. On average, 61750 shares of MXI exchange hands on a given day and today's volume is recorded at 74669.
Shares of PNM Resources, Inc (PNM) fell by 0.38% or $-0.07/share to $18.43. In the past year, the shares have traded as low as $12.47 and as high as $19.05. On average, 476090 shares of PNM exchange hands on a given day and today's volume is recorded at 450994.
