ascending triangle

Ascending Triangle

In technical analysis, a series of high and low prices for a security that, when plotted on a chart, looks vaguely like a triangle pointed to the right. One constructs an ascending triangle by first drawing a horizontal line on a chart representing a high price toward which a security is approaching and then drawing a diagonal line representing a security's upward price trend. An ascending triangle indicates that both the highs and the lows are rising. It is a bullish signal. See also: Descending triangle.

ascending triangle

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ascending triangle
In technical analysis, a triangle-shaped chart pattern indicating price breaks during periods of high- and low-volume trading and characterized by a left side that is nearly vertical, a top that is nearly horizontal, and a third side that slopes upward and to the right to connect with the left side and the top. This pattern is considered to be a bullish indicator especially when the price breaks upward through the top side on high volume. Compare descending triangle.
References in periodicals archive ?
The uptrend on Abu Dhabi index is still intact and may hit a resistance at 5,050 later this month, and may even hit 5,289 in the next few months after the index has shown ascending triangle on a medium term chart, said Al Ashri.
Technically the stock has made an ascending triangle on daily charts and is breaking out of it; also, with the auto sector being as correlated to GDP as it is, the reforms the government is bringing in could drive this stock higher.
The bullish ascending triangle suggests a continuum of the upward trend, subject to the stock breaking past the short term resistance point at EUR 1.
An Ascending Triangle Pattern is a continuation pattern and usually occurs after a large run up in price.
USDCAD has been developing a very wide, ascending triangle formation since October.
This index has been forming an ascending triangle reversal pattern during the past several weeks.
An Ascending Triangle Pattern is a <strong>bullish continuation pattern</strong>&nbsp;and usually occurs after a large run up in price.
As mentioned last week, Emirates Integrated Telecommunications has established a bullish ascending triangle consolidation pattern with a breakout price above resistance of Dh2.
Indeed, the DXY index has been consolidating within an ascending triangle, and while these are typically bullish continuation patterns, price would first need to break above the 2008 highs as a confirmation of such a bias (see chart at bottom of page).
The names of classic patterns often reflect the shape of the formation such as the Double Bottom, Head and Shoulders Top, Ascending Triangle and so on.
However, technical analysis is proving to be increasingly important at this juncture, as the US dollar index is still in the midst of a tight consolidation within an ascending triangle formation, with a break above the 2008 highs likely to signal a continuation of the currency's uptrend.