ALLEGHENY TECHNOLOGIES INC (ATI)
Every week Tech Charts Global Equity Markets report features some of the well-defined, mature classical chart patterns under a lengthy watchlist and the chart pattern breakout signals that took place during that week. Global Equity Markets report covers single stocks from developed, emerging and frontier markets, ETF’s and global equity indices. The report starts with a review section that highlights the important chart developments on global equity benchmarks. This blog post features a bullish ascending triangle chart pattern on Allegheny Technologies Inc. listed on the New York Stock Exchange.
ALLEGHENY TECHNOLOGIES INC (ATI)
Allegheny Technologies Incorporated is a manufacturer of specialty materials and complex components. The Company operates through two business segments: High Performance Materials & Components (HPMC), and Flat Rolled Products (FRP). The stock is listed on the New York Stock Exchange. Price chart formed a 9 month-long ascending triangle with the horizontal boundary acting as strong resistance at 29.85 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 30.75 levels will confirm the breakout from the 9 month-long ascending triangle with the possible chart pattern price target of 36.90 levels.
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