These stocks, Gran Tierra Energy, Inc, Innophos Holdings Inc, Eaton Vance Municipal Income Trust, Flaherty & Crumrine/Claymore Preferred Securities Income Fund Inc, and Unilife Corporation, have been showing ascending triangle patterns on June 7. 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 Gran Tierra Energy, Inc (GTE) traded higher by 3.81% or $0.19/share to $5.18. In the past year, the shares have traded as low as $4.20 and as high as $7.27. On average, 775130 shares of GTE exchange hands on a given day and today's volume is recorded at 308930.
Shares of Innophos Holdings Inc (IPHS) traded higher by 3.23% or $1.65/share to $52.72. In the past year, the shares have traded as low as $35.60 and as high as $51.94. On average, 213410 shares of IPHS exchange hands on a given day and today's volume is recorded at 185745.
Shares of Eaton Vance Municipal Income Trust (EVN) fell by 2.06% or $-0.29/share to $13.82. In the past year, the shares have traded as low as $10.36 and as high as $14.17. On average, 57840 shares of EVN exchange hands on a given day and today's volume is recorded at 99158.
Shares of Flaherty & Crumrine/Claymore Preferred Securities Income Fund Inc (FFC) traded higher by 0.22% or $0.04/share to $18.05. In the past year, the shares have traded as low as $13.64 and as high as $18.54. On average, 108810 shares of FFC exchange hands on a given day and today's volume is recorded at 64600.
Shares of Unilife Corporation (UNIS) traded higher by 0.73% or $0.03/share to $4.12. In the past year, the shares have traded as low as $2.82 and as high as $5.44. On average, 249210 shares of UNIS exchange hands on a given day and today's volume is recorded at 67981.
