These stocks, Meridian Interstate Bancorp, Inc, MFS Charter Income Trust, Celadon Group Inc, Prospect Capital Corporation, and PNM Resources, Inc, have been showing ascending triangle patterns on June 28. 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 Meridian Interstate Bancorp, Inc (EBSB) fell by 1.10% or $-0.15/share to $13.47. In the past year, the shares have traded as low as $10.68 and as high as $13.95. On average, 14500 shares of EBSB exchange hands on a given day and today's volume is recorded at 1000.
Shares of MFS Charter Income Trust (MCR) fell by 0.41% or $-0.04/share to $9.8. In the past year, the shares have traded as low as $7.82 and as high as $9.85. On average, 120020 shares of MCR exchange hands on a given day and today's volume is recorded at 152015.
Shares of Celadon Group Inc (CGI) fell by 3.07% or $-0.48/share to $15.18. In the past year, the shares have traded as low as $8.15 and as high as $17.19. On average, 163860 shares of CGI exchange hands on a given day and today's volume is recorded at 122498.
Shares of Prospect Capital Corporation (PSEC) fell by 0.40% or $-0.05/share to $11.24. In the past year, the shares have traded as low as $6.69 and as high as $11.44. On average, 1345650 shares of PSEC exchange hands on a given day and today's volume is recorded at 552592.
Shares of PNM Resources, Inc (PNM) remained unchanged at $19.26. In the past year, the shares have traded as low as $12.47 and as high as $19.37. On average, 470720 shares of PNM exchange hands on a given day and today's volume is recorded at 153954.
