These stocks, Williams-Sonoma Inc, Harsco Corporation, KB Financial Group, Inc, iShares S&P Global Materials, and PNM Resources, Inc, have been showing ascending triangle patterns on May 11. 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 Williams-Sonoma Inc (WSM) fell by 0.53% or $-0.20/share to $37.37. In the past year, the shares have traded as low as $27.44 and as high as $44.53. On average, 2697380 shares of WSM exchange hands on a given day and today's volume is recorded at 1562337.
Shares of Harsco Corporation (HSC) fell by 2.79% or $-0.57/share to $19.85. In the past year, the shares have traded as low as $17.26 and as high as $33.19. On average, 671070 shares of HSC exchange hands on a given day and today's volume is recorded at 1002641.
Shares of KB Financial Group, Inc (KB) fell by 2.69% or $-0.91/share to $32.9. In the past year, the shares have traded as low as $29.33 and as high as $52.01. On average, 155730 shares of KB exchange hands on a given day and today's volume is recorded at 90677.
Shares of iShares S&P Global Materials (MXI) fell by 1.30% or $-0.76/share to $57.63. In the past year, the shares have traded as low as $49.86 and as high as $74.46. On average, 59570 shares of MXI exchange hands on a given day and today's volume is recorded at 243183.
Shares of PNM Resources, Inc (PNM) fell by 0.81% or $-0.15/share to $18.26. In the past year, the shares have traded as low as $12.47 and as high as $19.05. On average, 481020 shares of PNM exchange hands on a given day and today's volume is recorded at 182454.
