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Quarterly Pattern:Ascending Triangle
Number of records: 6
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- 3/15/2024 -
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PriceChg%DailyWklyDailyWklyDailyWklyMtlyQtlyYrlySectorIndustrySignalsRanksticksList
DD 73.432.84%84.7359.71 10 42 1 Add to Watch List
EMR 110.590.40%78.0183.72 12 108 2 Downtrend Broken Resist.Add to Watch List
JNJ 158.18-0.84%41.3260.70 6 47 Add to Watch List
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Chart Analysis and Chart Pattern Recognition – Ascending Triangle Pattern

The ascending triangle pattern is a variation of symmetrical triangle formation that has a flat resistance line and a 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 a continuation pattern, especially in an uptrend, but it may also mark a reversal in a downtrend. Volume usually increases on a breakout move. After breakout (similar to rectangle), resistance may turn into potential support and vice versa.
Ascending Triangle Screening page presents a list of stocks forming an Ascending Triangle Pattern.
Tips:
# 1As a continuation pattern, an ascending triangle usually appears within a young trend, characterized by neutral long-term indicators and overbought short-term indicators. An ascending triangle resets short-term indicators to neutral and then continues the movement in parent's direction.
# 2 As a reversal formation, an ascending triangle appears in a 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.

Stock Chart Patterns.

The price chart is the result of the activity of all market participants. It reflects periods of high expectations, greed and fear. As with most emotional human activities, it presents different patterns. Chart analysis and pattern recognition provide useful information for technical analysis, trend analysis, and market timing signals for technical trading. Trendlines and chart patterns can be analyzed in different time frames: from intraday, daily and weekly frames, up to multi-year patterns. It is the best practice to analyze patterns in conjunction with other technical indicators. Each price pattern is formed by several smaller sub waves. At least 3 – 4 subwaves are required to perform a reliable pattern screening. We use a minimal required number of sub waves for an earlier pattern recognition screener. On the other hand, a pattern formed with more subwaves is more reliable.
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Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.