These stocks, Franklin Electric Co. Inc, Kearny Financial Corp, Legacy Reserves Lp, PNM Resources, Inc, and Dycom Industries Inc, have been showing ascending triangle patterns on May 15. 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 Franklin Electric Co. Inc (FELE) traded higher by 0.47% or $0.23/share to $49.33. In the past year, the shares have traded as low as $32.64 and as high as $53.75. On average, 104740 shares of FELE exchange hands on a given day and today's volume is recorded at 53552.
Shares of Kearny Financial Corp (KRNY) traded higher by 0.54% or $0.05/share to $9.25. In the past year, the shares have traded as low as $7.86 and as high as $10.06. On average, 14880 shares of KRNY exchange hands on a given day and today's volume is recorded at 2363.
Shares of Legacy Reserves Lp (LGCY) traded higher by 0.22% or $0.06/share to $27.81. In the past year, the shares have traded as low as $20.79 and as high as $29.96. On average, 119230 shares of LGCY exchange hands on a given day and today's volume is recorded at 91986.
Shares of PNM Resources, Inc (PNM) fell by 1.54% or $-0.28/share to $17.85. In the past year, the shares have traded as low as $12.47 and as high as $19.05. On average, 479070 shares of PNM exchange hands on a given day and today's volume is recorded at 256734.
Shares of Dycom Industries Inc (DY) fell by 0.49% or $-0.11/share to $22.31. In the past year, the shares have traded as low as $12.26 and as high as $23.96. On average, 316690 shares of DY exchange hands on a given day and today's volume is recorded at 153679.
