Shares of TOTAL S.A. (NYSE:TOT) have formed a bullish ascending triangle pattern. Their stock price currently sits at $46.61.
A bullish pattern, the ascending triangle gives an indication that the price of TOTAL S.A. (NYSE:TOT) is headed upward. The pattern is formed by two distinct trendlines, a flat trendline as a point of resistance and also an ascending trendline as a price support.
The stock price moves between these trendlines until the point where it eventually breaks out on top. The pattern typically will be preceded by an ascending trend, making it a continuation pattern, though it can also be found during a downtrend.
In an ascending triangle pattern, the price moves to a high that encounters resistance leading to a sell-off. This follows another upward move, testing the previous level of resistance. Once failing to move beyond this level of resistance, the stock once again sells off, but to a higher low this time. This trend continues until the price moves beyond the level of resistance or until the pattern fails.
The ascending support line gives an indication that sellers are starting to abandon the security. When the sellers are knocked out of the market, buyers can carry the price past the resistance level, where it will resume the upward trend.
The pattern is complete when it breaks out above the resistance level, though it can fall below the support line (breaking the pattern).
The stock stands -1.48% away from its 50-day simple moving average and also 0.09% away from the 200-day average. Recently, the commodity stands -6.48% away from the 52-week high and 24.67% from the 52-week low. The RSI (Relative Strength Index), an indicator that shows price strength by comparing upward and downward close-to-close movements is 47.29.
RETURNS AND RECOMMENDATION
Shareholders can expect a return on equity of 4.20%. Calculated by dividing TOTAL S.A. (NYSE:TOT)’s annual earnings by its total assets, investors will note a return on assets of 1.80%. Finally, TOTAL S.A.’s return on investment stands at 2.10% when you divide the shareholder’s return by the cost. The consensus analysts recommendation at this point stands at 2.40 on this stock. This is based on a 1-5 scale where 1 indicates a Strong Buy and 5 a Strong Sell.
Disclaimer: Nothing contained in this publication is intended to constitute legal, tax, securities, or investment advice, nor an opinion regarding the appropriateness of any investment, nor a solicitation of any type. The general information contained in this publication should not be acted upon without obtaining specific legal, tax, and investment advice from a licensed professional.
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