Move cursor over the icon or click on it to see technical
indicators and trend details.
|
| Chart Analysis and Chart Pattern Recognition – Ascending Triangle Pattern |
The ascending triangle is a variation of triangle formation that has a flat
resistance line and rising support line. The higher lows indicate the
increasing demand and give the ascending triangle definitive bullish bias. The
ascending triangle usually represents an accumulation stage in bullish market.
The ascending triangle is considered as continuation pattern especially in
uptrend, but it may also mark a reversal in downtrend. Volume usually increases
on breakout. After breakout (similar to rectangle) resistance may tern into
potential support and visa versa.
Ascending Triangle Screening page presents a list of stocks forming Ascending Triangle Pattern.
Tips:
# 1 As continuation pattern ascending triangle usually appears within
the young trend characterizes by natural long-term indicators and overbought
short-term indicators. Ascending triangle reset short-term indicators to
natural and then continue movement in parents direction.
# 2 As reversal formation ascending triangle appears in mature downtrend
characterized by oversold short-term and long-term indicators. This situation
usually generates bullish divergence on long-term indicators.
# 3 For the best results chart patterns should be considered together with other technical analysis signals and technical trading techniques.
Estimated Target: the main trend support/resistance line. |
Ascending Triangle Pattern,Ascending Triangle,Ascending Triangle Chart Pattern,Trend Support, chart pattern, chart, pattern, technical analysis, signals, chart analysis, pattern recognition, screening, technical trading |
|
|
|
|
| See also: How to use the Analysis page.
|
|