These stocks, PNM Resources, Inc, Kansas City Southern, Crosstex Energy LP, iShares S&P Global Materials, and CAE Inc, have been showing ascending triangle patterns on May 3. 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 PNM Resources, Inc (PNM) fell by 0.91% or $-0.17/share to $18.51. In the past year, the shares have traded as low as $12.47 and as high as $19.05. On average, 465430 shares of PNM exchange hands on a given day and today's volume is recorded at 257659.
Shares of Kansas City Southern (KSU) fell by 1.14% or $-0.88/share to $76.41. In the past year, the shares have traded as low as $45.51 and as high as $79.50. On average, 956250 shares of KSU exchange hands on a given day and today's volume is recorded at 718903.
Shares of Crosstex Energy LP (XTEX) fell by 1.03% or $-0.18/share to $17.25. In the past year, the shares have traded as low as $12.50 and as high as $17.92. On average, 173920 shares of XTEX exchange hands on a given day and today's volume is recorded at 173592.
Shares of iShares S&P Global Materials (MXI) fell by 1.60% or $-0.99/share to $61.04. In the past year, the shares have traded as low as $49.86 and as high as $75.61. On average, 65720 shares of MXI exchange hands on a given day and today's volume is recorded at 58696.
Shares of CAE Inc (CAE) fell by 2.38% or $-0.26/share to $10.66. In the past year, the shares have traded as low as $8.43 and as high as $13.46. On average, 18090 shares of CAE exchange hands on a given day and today's volume is recorded at 3857.
