Stocks with Ascending Triangle Pattern
↑ BullishThe Ascending Triangle is a bullish continuation pattern characterized by a flat upper resistance line and a rising lower support line. It indicates that buyers are becoming more aggressive, pushing the price higher with each pullback, while sellers are defending a specific price level.
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Frequently Asked Questions
What does an Ascending Triangle indicate?
An Ascending Triangle typically indicates bullish sentiment. The flat resistance shows sellers at a fixed price, while rising lows show increasing buying pressure. A breakout above resistance is the expected outcome.
How reliable is the Ascending Triangle pattern?
The Ascending Triangle is considered one of the more reliable chart patterns, with studies showing a breakout to the upside approximately 60-70% of the time when properly identified.