Ascending Bases Stock Chart Pattern And Real Examples

Ascending bases, like flat bases, occur midway along a move up after a stock has broken out of a cup-with-handle or double-bottom base. They have three pullbacks of from 10% to 20%, with each low point during the sell-off in price being higher than the preceding one, which is why I call them ascending bases.
Each of the pullbacks usually occurs because the general market is declining at that time.
Boeing formed a 13-week ascending base in the second quarter of 1954 and then doubled in price. Redman Industries, a builder of mobile homes, had an 11- week ascending base in the first quarter of 1968 and proceeded to increase 500% in just 37 weeks. America Online created the same type of base in the first quarter of 1999 and resumed what turned out to be a 500% run-up from the breakout of a 14-week cup with handle in October 1998.
So you see, history does repeat itself. The more historical patterns you know and come to recognize, the more money you should be able to make in future markets. (See the chart examples in Chapter 1. and also Simmonds Precision, Monogram Industries, Redman Industries, America Online, and Titanium Metals.

Real Examples For Ascending Bases Stock Chart Pattern