Bullish Ascending Triangle: (NYSE:ARK) Black Rock Senior High Income Fund, Inc.

Here is an interesting stock chart I created. 

It's amusing how sometimes you randomly find some really nice stocks by mistaking a letter of a symbol. Well, $ARK is one of those "mistakes". At a first glance I recognized the ascending triangle that has been forming since early 2009; price kept on bouncing between the two converging trend lines, and now it’s about to breakout $4.55. So now the question is, where is the price going? We can draw assumptions based on past performances of ascending triangles, and searching for notable supports.

Here Are Some Relevant Statistics for Ascending Triangles:

-Overall performance rank for up/down breakouts: 17 out of 23; 9 out of 21.

-Break-even failure rate for up/down breakouts: 13%; 11%

-Average rise/decline: 35%; 19% 

-Throwback/pullback rate: 57%; 49%

-Percentage meeting price target for up/down breakouts: 75%; 68%

 Source: www.thepatternsite.com/at.html

Alexander Schachter