These stocks, REGAL ENTERTAINMENT GROUP, State Auto Financial Corp, The Allstate Corporation, EXCO Resources Inc, and EnerSys, have been showing ascending triangle patterns on July 27. 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 REGAL ENTERTAINMENT GROUP (RGC) traded higher by 4.07% or $0.53/share to $13.66. In the past year, the shares have traded as low as $10.61 and as high as $14.51. On average, 2066790 shares of RGC exchange hands on a given day and today's volume is recorded at 2308223.
Shares of State Auto Financial Corp (STFC) traded higher by 1.00% or $0.13/share to $13.1. In the past year, the shares have traded as low as $9.75 and as high as $17.13. On average, 36190 shares of STFC exchange hands on a given day and today's volume is recorded at 29471.
Shares of The Allstate Corporation (ALL) traded higher by 1.87% or $0.64/share to $34.79. In the past year, the shares have traded as low as $21.79 and as high as $35.42. On average, 4833860 shares of ALL exchange hands on a given day and today's volume is recorded at 2729517.
Shares of EXCO Resources Inc (XCO) traded higher by 0.36% or $0.03/share to $6.99. In the past year, the shares have traded as low as $5.61 and as high as $16.18. On average, 5939700 shares of XCO exchange hands on a given day and today's volume is recorded at 4035139.
Shares of EnerSys (ENS) traded higher by 2.56% or $0.86/share to $34.49. In the past year, the shares have traded as low as $17.35 and as high as $36.58. On average, 378410 shares of ENS exchange hands on a given day and today's volume is recorded at 208236.
