These stocks, United States Steel Corp, The Mosaic Company, Crosstex Energy LP, iShares S&P Global Materials, and PNM Resources, Inc, have been showing ascending triangle patterns on May 1. 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 United States Steel Corp (X) traded higher by 2.51% or $0.71/share to $29.04. In the past year, the shares have traded as low as $18.79 and as high as $47.68. On average, 10895770 shares of X exchange hands on a given day and today's volume is recorded at 7270466.
Shares of The Mosaic Company (MOS) traded higher by 1.21% or $0.64/share to $53.46. In the past year, the shares have traded as low as $44.78 and as high as $75.23. On average, 4591040 shares of MOS exchange hands on a given day and today's volume is recorded at 2794738.
Shares of Crosstex Energy LP (XTEX) fell by 0.37% or $-0.07/share to $17.74. In the past year, the shares have traded as low as $12.75 and as high as $18.90. On average, 171100 shares of XTEX exchange hands on a given day and today's volume is recorded at 254931.
Shares of iShares S&P Global Materials (MXI) traded higher by 0.96% or $0.60/share to $62.68. In the past year, the shares have traded as low as $49.86 and as high as $76.94. On average, 67200 shares of MXI exchange hands on a given day and today's volume is recorded at 9437.
Shares of PNM Resources, Inc (PNM) traded higher by 1.17% or $0.22/share to $18.98. In the past year, the shares have traded as low as $12.47 and as high as $19.05. On average, 465130 shares of PNM exchange hands on a given day and today's volume is recorded at 241280.
