These stocks, Legacy Reserves Lp, PNM Resources, Inc, Williams-Sonoma Inc, Kearny Financial Corp, and CAE Inc, have been showing ascending triangle patterns on May 17. 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) fell by 3.91% or $-1.08/share to $26.55. In the past year, the shares have traded as low as $20.79 and as high as $29.96. On average, 118540 shares of LGCY exchange hands on a given day and today's volume is recorded at 125395.
Shares of PNM Resources, Inc (PNM) fell by 0.72% or $-0.13/share to $17.9. In the past year, the shares have traded as low as $12.47 and as high as $19.05. On average, 481220 shares of PNM exchange hands on a given day and today's volume is recorded at 237924.
Shares of Williams-Sonoma Inc (WSM) fell by 2.73% or $-0.99/share to $35.21. In the past year, the shares have traded as low as $27.43 and as high as $42.75. On average, 2701640 shares of WSM exchange hands on a given day and today's volume is recorded at 2893386.
Shares of Kearny Financial Corp (KRNY) traded higher by 0.11% or $0.01/share to $9.23. In the past year, the shares have traded as low as $7.86 and as high as $10.06. On average, 14810 shares of KRNY exchange hands on a given day and today's volume is recorded at 3887.
Shares of CAE Inc (CAE) fell by 0.30% or $-0.03/share to $9.84. In the past year, the shares have traded as low as $8.43 and as high as $13.46. On average, 17570 shares of CAE exchange hands on a given day and today's volume is recorded at 7698.
