What patterns suggest upward breakout?

The rising wedge pattern and the ascending triangle pattern suggest upward breakout.

1. Rising Wedge Pattern: This pattern is considered a bearish chart pattern that indicates a potential breakout to the downside. It is formed when the price moves upward with pivot highs and lows converging toward a single point known as the apex. If the pattern is accompanied by declining volume, it can signal a trend reversal and a continuation of the bear market.

2. Ascending Triangle: This pattern is completed when the stock price breaks out of the triangle in an upward direction, suggesting a possible bullish trend in the near future. The ascending triangle is a symmetrical triangle that is formed when the price consolidates in a narrow range between two parallel lines. It is considered a continuation pattern that indicates the price will continue to move in the same direction after the breakout.

3. Head and Shoulders: This pattern is a reversal pattern that indicates a potential change in the trend direction. It is formed when the price creates a series of higher highs and lower lows, with the most recent high being lower than the previous one. The pattern is completed when the price breaks below the support level (neckline) that connects the two lowest points. It is considered a bullish pattern that suggests a potential upward breakout.

4. Double Top: This pattern is a reversal pattern that indicates a potential change in the trend direction. It is formed when the price creates two consecutive tops at the same price level, with a slight decrease in price between them. The pattern is completed when the price breaks below the support level that connects the two lowest points. It is considered a bullish pattern that suggests a potential upward breakout.

5. Rounding Bottom: This pattern is a reversal pattern that indicates a potential change in the trend direction. It is formed when the price creates a series of lower highs and higher lows, with the most recent low being higher than the previous one. The pattern is completed when the price breaks above the resistance level that connects the two highest points. It is considered a bullish pattern that suggests a potential upward breakout.

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