These stocks, United States Steel Corp, Approach Resources, Inc, Crocs, Inc, Stonemor Partners LP, and Fred's, Inc, have been showing ascending triangle patterns on May 6. 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) fell by 3.47% or $-0.96/share to $26.74. In the past year, the shares have traded as low as $18.79 and as high as $47.19. On average, 10260910 shares of X exchange hands on a given day and today's volume is recorded at 9009275.
Shares of Approach Resources, Inc (AREX) fell by 2.16% or $-0.71/share to $32.19. In the past year, the shares have traded as low as $14.14 and as high as $39.18. On average, 496150 shares of AREX exchange hands on a given day and today's volume is recorded at 1578755.
Shares of Crocs, Inc (CROX) fell by 5.49% or $-1.07/share to $18.43. In the past year, the shares have traded as low as $14.20 and as high as $32.47. On average, 2164260 shares of CROX exchange hands on a given day and today's volume is recorded at 3829359.
Shares of Stonemor Partners LP (STON) fell by 0.91% or $-0.24/share to $26.0. In the past year, the shares have traded as low as $19.64 and as high as $27.72. On average, 94340 shares of STON exchange hands on a given day and today's volume is recorded at 76059.
Shares of Fred's, Inc (FRED) fell by 0.78% or $-0.11/share to $13.95. In the past year, the shares have traded as low as $10.18 and as high as $15.21. On average, 236900 shares of FRED exchange hands on a given day and today's volume is recorded at 253636.
