These stocks, United States Steel Corp, UBS AG, Fred's, Inc, iShares MSCI Pacific ex-Japan, and CAE Inc, have been showing ascending triangle patterns on May 8. 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 2.10% or $-0.56/share to $26.11. In the past year, the shares have traded as low as $18.75 and as high as $47.06. On average, 10222810 shares of X exchange hands on a given day and today's volume is recorded at 8534291.
Shares of UBS AG (UBS) fell by 1.13% or $-0.14/share to $12.26. In the past year, the shares have traded as low as $10.41 and as high as $19.62. On average, 4019870 shares of UBS exchange hands on a given day and today's volume is recorded at 3246828.
Shares of Fred's, Inc (FRED) fell by 3.40% or $-0.48/share to $13.65. In the past year, the shares have traded as low as $10.18 and as high as $15.21. On average, 239240 shares of FRED exchange hands on a given day and today's volume is recorded at 264635.
Shares of iShares MSCI Pacific ex-Japan (EPP) fell by 1.33% or $-0.57/share to $42.36. In the past year, the shares have traded as low as $33.73 and as high as $47.73. On average, 533000 shares of EPP exchange hands on a given day and today's volume is recorded at 425496.
Shares of CAE Inc (CAE) fell by 2.41% or $-0.25/share to $10.13. In the past year, the shares have traded as low as $8.43 and as high as $13.46. On average, 17990 shares of CAE exchange hands on a given day and today's volume is recorded at 43820.
