In chart analysis, the term “ascending top” denotes the highest point reached by a chart pattern before a decline.
Example: Over the course of a trading day, the price of a stock climbs to 180.20 francs per share before descending to 179.30 francs per share. Eventually the rate climbs to 179.50 before falling to 179.45. It then recovers until it reaches 179.49 before falling to 179.48. The highest points before each descent (180.20, 179.50 and 179.49) would be indicated as ascending tops on a chart tracking the price of the stock.
See also: Descending tops
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