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Ascending Triangle Pattern

The Ascending Triangle Pattern

The Ascending Triangle is a variation of the symmetrical triangle. Ascending triangles are generally considered bullish and are most reliable when found in an up-trend. The top part of the triangle appears flat, while the bottom part of the triangle has an upward slant.

Here is a considerable points for Ascending Triangle Pattern:

  • 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.
  • As in the case of the symmetrical triangle, the breakout is generally accompanied by a marked increase in volume.
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