These stocks, Advent Software, Inc, Celadon Group Inc, MFS Charter Income Trust, Prospect Capital Corporation, and Newell Rubbermaid Inc, have been showing ascending triangle patterns on July 3. 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 Advent Software, Inc (ADVS) traded higher by 2.01% or $0.55/share to $27.97. In the past year, the shares have traded as low as $19.00 and as high as $29.54. On average, 150460 shares of ADVS exchange hands on a given day and today's volume is recorded at 83775.
Shares of Celadon Group Inc (CGI) traded higher by 1.87% or $0.30/share to $16.35. In the past year, the shares have traded as low as $8.15 and as high as $17.19. On average, 169370 shares of CGI exchange hands on a given day and today's volume is recorded at 127431.
Shares of MFS Charter Income Trust (MCR) remained unchanged at $9.84. In the past year, the shares have traded as low as $7.82 and as high as $9.89. On average, 122160 shares of MCR exchange hands on a given day and today's volume is recorded at 100888.
Shares of Prospect Capital Corporation (PSEC) traded higher by 0.69% or $0.08/share to $11.7. In the past year, the shares have traded as low as $6.63 and as high as $11.62. On average, 1379960 shares of PSEC exchange hands on a given day and today's volume is recorded at 1267668.
Shares of Newell Rubbermaid Inc (NWL) fell by 0.22% or $-0.04/share to $18.12. In the past year, the shares have traded as low as $10.70 and as high as $19.31. On average, 3064360 shares of NWL exchange hands on a given day and today's volume is recorded at 1153357.
