These stocks, Legacy Reserves Lp, CAE Inc, Fred's, Inc, PNM Resources, Inc, and KB Financial Group, Inc, 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 Legacy Reserves Lp (LGCY) traded higher by 0.07% or $0.02/share to $27.99. In the past year, the shares have traded as low as $20.79 and as high as $29.96. On average, 119890 shares of LGCY exchange hands on a given day and today's volume is recorded at 82548.
Shares of CAE Inc (CAE) traded higher by 0.10% or $0.01/share to $10.1. In the past year, the shares have traded as low as $8.43 and as high as $13.46. On average, 18040 shares of CAE exchange hands on a given day and today's volume is recorded at 11010.
Shares of Fred's, Inc (FRED) traded higher by 0.94% or $0.13/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, 245100 shares of FRED exchange hands on a given day and today's volume is recorded at 167806.
Shares of PNM Resources, Inc (PNM) fell by 0.65% or $-0.12/share to $18.29. 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 339295.
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 101667.
