The Ascending Triangle Pattern

 

 

Ascending triangles are generally considered bullish and are most reliable when found in an up-trend.

  • In ascending triangles, the stock becomes overbought and prices are turned back.

  • Buying then re-enters the market and prices soon reach their old highs, where they are once again turned back.

  • Buying then resurfaces, although at a higher level than before.

  • Prices eventually break through the old highs and are propelled even higher as new buying comes in.


 

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