These stocks, iShares S&P Global Materials, Harsco Corporation, Corning Inc, and Williams-Sonoma Inc, have been showing ascending triangle patterns on May 13. 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) fell by 1.42% or $-0.83/share to $57.56. In the past year, the shares have traded as low as $49.86 and as high as $74.45. On average, 59570 shares of MXI exchange hands on a given day and today's volume is recorded at 262515.
Shares of Harsco Corporation (HSC) fell by 2.79% or $-0.57/share to $19.85. In the past year, the shares have traded as low as $17.26 and as high as $33.19. On average, 671070 shares of HSC exchange hands on a given day and today's volume is recorded at 1326172.
Shares of Corning Inc (GLW) fell by 0.08% or $-0.01/share to $13.31. In the past year, the shares have traded as low as $11.39 and as high as $20.80. On average, 16575070 shares of GLW exchange hands on a given day and today's volume is recorded at 6631930.
Shares of Williams-Sonoma Inc (WSM) fell by 0.69% or $-0.26/share to $37.31. In the past year, the shares have traded as low as $27.44 and as high as $44.53. On average, 2697380 shares of WSM exchange hands on a given day and today's volume is recorded at 1899236.
