These stocks, American Vanguard Corp, Meridian Interstate Bancorp, Inc, MFS Charter Income Trust, Celadon Group Inc, and Prospect Capital Corporation, have been showing ascending triangle patterns on July 1. 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 American Vanguard Corp (AVD) traded higher by 3.46% or $0.89/share to $26.59. In the past year, the shares have traded as low as $9.56 and as high as $27.25. On average, 350210 shares of AVD exchange hands on a given day and today's volume is recorded at 229697.
Shares of Meridian Interstate Bancorp, Inc (EBSB) traded higher by 3.11% or $0.42/share to $13.92. In the past year, the shares have traded as low as $10.68 and as high as $13.95. On average, 14440 shares of EBSB exchange hands on a given day and today's volume is recorded at 14036.
Shares of MFS Charter Income Trust (MCR) fell by 0.10% or $-0.01/share to $9.81. In the past year, the shares have traded as low as $7.82 and as high as $9.85. On average, 121600 shares of MCR exchange hands on a given day and today's volume is recorded at 128397.
Shares of Celadon Group Inc (CGI) traded higher by 3.80% or $0.60/share to $16.38. In the past year, the shares have traded as low as $8.15 and as high as $17.19. On average, 164700 shares of CGI exchange hands on a given day and today's volume is recorded at 217496.
Shares of Prospect Capital Corporation (PSEC) traded higher by 0.98% or $0.11/share to $11.39. In the past year, the shares have traded as low as $6.63 and as high as $11.37. On average, 1348810 shares of PSEC exchange hands on a given day and today's volume is recorded at 1590931.
