5 Ways to Tell a Stock is Headed Up
John Lansing, February 23, 2010
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Ascending Triangle
Find the Hidden Money-Doublers in Today's Stock MarketIn technical analysis, triangles appear to reflect a balance of forces, causing a sideways movement in the stock that is usually associated with decreasing volume and volatility. The ascending triangle (also called an ascending right triangle) is a bullish indicator.
An ascending triangle is characterized by a rally to a new high, followed by a pullback to an intermediate support level, then a second rally to test the first peak, followed by a second decline to a level higher than the intermediate-term support level and, finally, a rally to fresh new highs on strong volume.
Learn about the other types of triangles.
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