Another ascending triangle is taking shape in shares of AES (AES) right now. While an electric utility like AES may not be most investors' idea of a prototypical trading vehicle, this stock has had a volatile run over the last six months or so -- certainly enough price action to justify taking a trade on this stock.
In the case of AES, the breakout level comes at $13.50. As with VRSN, it's essential to wait for the breakout to occur before going long shares of this stock. That's because a breakout above $13.50 means that supply of shares has been absorbed by buying pressures and sellers won't be as eager to part with shares at lower levels. Until that happens, going long this stock isn't a high probability trade.
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