These stocks, iShares S&P Global Materials, Franklin Electric Co. Inc, Fred's, Inc, Legacy Reserves Lp, and iShares MSCI Pacific ex-Japan, have been showing ascending triangle patterns on May 14. 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 1.89% or $-1.09/share to $56.47. In the past year, the shares have traded as low as $49.85 and as high as $74.46. On average, 62800 shares of MXI exchange hands on a given day and today's volume is recorded at 131053.
Shares of Franklin Electric Co. Inc (FELE) traded higher by 0.63% or $0.31/share to $49.54. In the past year, the shares have traded as low as $32.64 and as high as $53.75. On average, 102590 shares of FELE exchange hands on a given day and today's volume is recorded at 56291.
Shares of Fred's, Inc (FRED) traded higher by 1.65% or $0.23/share to $14.18. In the past year, the shares have traded as low as $10.18 and as high as $15.21. On average, 243870 shares of FRED exchange hands on a given day and today's volume is recorded at 94506.
Shares of Legacy Reserves Lp (LGCY) fell by 0.25% or $-0.07/share to $27.92. In the past year, the shares have traded as low as $20.79 and as high as $29.96. On average, 119300 shares of LGCY exchange hands on a given day and today's volume is recorded at 79505.
Shares of iShares MSCI Pacific ex-Japan (EPP) fell by 0.69% or $-0.29/share to $41.52. In the past year, the shares have traded as low as $33.73 and as high as $47.25. On average, 546640 shares of EPP exchange hands on a given day and today's volume is recorded at 319247.
