These stocks, RBC Bearings Inc, and Newell Rubbermaid 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 RBC Bearings Inc (ROLL) fell by 1.53% or $-0.70/share to $45.13. In the past year, the shares have traded as low as $29.39 and as high as $49.47. On average, 86200 shares of ROLL exchange hands on a given day and today's volume is recorded at 26222.
Shares of Newell Rubbermaid Inc (NWL) fell by 1.09% or $-0.19/share to $17.21. In the past year, the shares have traded as low as $10.70 and as high as $19.30. On average, 3049520 shares of NWL exchange hands on a given day and today's volume is recorded at 2099421.
