These stocks, Fred's, Inc, Dycom Industries Inc, Approach Resources, Inc, Franklin Electric Co. Inc, and United States Steel Corp, have been showing ascending triangle patterns on May 11. 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 Fred's, Inc (FRED) traded higher by 0.80% or $0.11/share to $13.93. In the past year, the shares have traded as low as $10.18 and as high as $15.21. On average, 245100 shares of FRED exchange hands on a given day and today's volume is recorded at 121723.
Shares of Dycom Industries Inc (DY) traded higher by 3.13% or $0.69/share to $22.74. In the past year, the shares have traded as low as $12.26 and as high as $23.96. On average, 307980 shares of DY exchange hands on a given day and today's volume is recorded at 661666.
Shares of Approach Resources, Inc (AREX) fell by 1.81% or $-0.55/share to $29.89. In the past year, the shares have traded as low as $14.14 and as high as $39.18. On average, 530270 shares of AREX exchange hands on a given day and today's volume is recorded at 210605.
Shares of Franklin Electric Co. Inc (FELE) fell by 0.62% or $-0.31/share to $49.29. In the past year, the shares have traded as low as $32.64 and as high as $53.75. On average, 103240 shares of FELE exchange hands on a given day and today's volume is recorded at 39550.
Shares of United States Steel Corp (X) remained unchanged at $25.85. In the past year, the shares have traded as low as $18.75 and as high as $47.01. On average, 10309280 shares of X exchange hands on a given day and today's volume is recorded at 8580878.
