These stocks, United States Steel Corp, Fulton Financial Corporation, Dycom Industries Inc, and PNM Resources, Inc, have been showing ascending triangle patterns on May 14. 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 0.27% or $-0.07/share to $25.78. In the past year, the shares have traded as low as $18.75 and as high as $47.01. On average, 10308800 shares of X exchange hands on a given day and today's volume is recorded at 4840660.
Shares of Fulton Financial Corporation (FULT) fell by 1.16% or $-0.12/share to $10.25. In the past year, the shares have traded as low as $7.09 and as high as $11.28. On average, 1199360 shares of FULT exchange hands on a given day and today's volume is recorded at 463410.
Shares of Dycom Industries Inc (DY) fell by 0.92% or $-0.21/share to $22.69. In the past year, the shares have traded as low as $12.26 and as high as $23.96. On average, 316450 shares of DY exchange hands on a given day and today's volume is recorded at 138685.
Shares of PNM Resources, Inc (PNM) fell by 0.05% or $-0.01/share to $18.28. In the past year, the shares have traded as low as $12.47 and as high as $19.05. On average, 478770 shares of PNM exchange hands on a given day and today's volume is recorded at 170151.
