These stocks, PNM Resources, Inc, Eaton Vance Municipal Income Trust, DTS Inc, Unilife Corporation, and Kearny Financial Corp, have been showing ascending triangle patterns on June 6. 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 PNM Resources, Inc (PNM) traded higher by 1.36% or $0.25/share to $18.67. In the past year, the shares have traded as low as $12.47 and as high as $19.05. On average, 448150 shares of PNM exchange hands on a given day and today's volume is recorded at 163042.
Shares of Eaton Vance Municipal Income Trust (EVN) fell by 0.21% or $-0.03/share to $14.1. In the past year, the shares have traded as low as $10.36 and as high as $14.14. On average, 61650 shares of EVN exchange hands on a given day and today's volume is recorded at 31965.
Shares of DTS Inc (DTSI) traded higher by 2.61% or $0.72/share to $28.29. In the past year, the shares have traded as low as $20.93 and as high as $43.80. On average, 120230 shares of DTSI exchange hands on a given day and today's volume is recorded at 24234.
Shares of Unilife Corporation (UNIS) traded higher by 0.74% or $0.03/share to $4.09. In the past year, the shares have traded as low as $2.82 and as high as $5.44. On average, 249150 shares of UNIS exchange hands on a given day and today's volume is recorded at 65670.
Shares of Kearny Financial Corp (KRNY) traded higher by 0.22% or $0.02/share to $9.22. In the past year, the shares have traded as low as $7.86 and as high as $10.06. On average, 15470 shares of KRNY exchange hands on a given day and today's volume is recorded at 8921.
