VectrenAn ascending triangle in shares of Vectren (VVC - Get Report) is telling traders that shares of this energy holding company present upside potential right now. An ascending triangle takes place when a stock's price action is bounded by a horizontal resistance level to the upside, and an upward trend line below. As shares of VVC get squeezed closer and closer to that overhead resistance level, the chances for a break above that price become significantly greater. The buy signal comes on a move above resistance; in VVC's case, we're looking for a move above $27.
Twitter and become a fan on Facebook. At the time of publication, author had no positions in stocks mentioned. Jonas Elmerraji, based out of Baltimore, is the editor and portfolio manager of the Rhino Stock Report, a free investment advisory that returned 15% in 2008. He is a contributor to numerous financial outlets, including Forbes and Investopedia , and has been featured in Investor's Business Daily , in Consumer's Digest and on MSNBC.com.