These stocks, Dycom Industries Inc, Franklin Electric Co. Inc, iShares MSCI Pacific ex-Japan, United States Steel Corp, and Kearny Financial Corp, 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 Dycom Industries Inc (DY) traded higher by 3.85% or $0.85/share to $22.9. In the past year, the shares have traded as low as $12.26 and as high as $23.96. On average, 307980 shares of DY exchange hands on a given day and today's volume is recorded at 841300.
Shares of Franklin Electric Co. Inc (FELE) fell by 0.75% or $-0.37/share to $49.23. In the past year, the shares have traded as low as $32.64 and as high as $53.75. On average, 103240 shares of FELE exchange hands on a given day and today's volume is recorded at 62659.
Shares of iShares MSCI Pacific ex-Japan (EPP) fell by 0.99% or $-0.42/share to $41.81. In the past year, the shares have traded as low as $33.73 and as high as $47.57. On average, 551150 shares of EPP exchange hands on a given day and today's volume is recorded at 267295.
Shares of United States Steel Corp (X) remained unchanged at $25.85. In the past year, the shares have traded as low as $18.75 and as high as $47.01. On average, 10309280 shares of X exchange hands on a given day and today's volume is recorded at 10275132.
Shares of Kearny Financial Corp (KRNY) fell by 1.15% or $-0.11/share to $9.42. In the past year, the shares have traded as low as $7.86 and as high as $10.06. On average, 14970 shares of KRNY exchange hands on a given day and today's volume is recorded at 8773.
