These stocks, KB Financial Group, Inc, iShares MSCI Pacific ex-Japan, Fred's, Inc, PNM Resources, Inc, and United States Steel Corp, have been showing ascending triangle patterns on May 7. 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 KB Financial Group, Inc (KB) traded higher by 0.44% or $0.15/share to $33.93. In the past year, the shares have traded as low as $29.33 and as high as $52.01. On average, 159470 shares of KB exchange hands on a given day and today's volume is recorded at 97092.
Shares of iShares MSCI Pacific ex-Japan (EPP) fell by 0.14% or $-0.06/share to $43.04. In the past year, the shares have traded as low as $33.73 and as high as $47.73. On average, 539280 shares of EPP exchange hands on a given day and today's volume is recorded at 515022.
Shares of Fred's, Inc (FRED) traded higher by 1.79% or $0.25/share to $14.2. In the past year, the shares have traded as low as $10.18 and as high as $15.21. On average, 237170 shares of FRED exchange hands on a given day and today's volume is recorded at 106143.
Shares of PNM Resources, Inc (PNM) traded higher by 0.38% or $0.07/share to $18.49. In the past year, the shares have traded as low as $12.47 and as high as $19.05. On average, 470610 shares of PNM exchange hands on a given day and today's volume is recorded at 230603.
Shares of United States Steel Corp (X) traded higher by 0.37% or $0.10/share to $26.84. In the past year, the shares have traded as low as $18.79 and as high as $47.15. On average, 10241630 shares of X exchange hands on a given day and today's volume is recorded at 5084040.
