The ascending triangle is a bullish formation that usually forms during or the beginning of an uptrend or as a continuation pattern. Specifically there are instances when ascending triangles form as reversal patterns at the end of a downtrend. Regardless of where they form, ascending triangles are bullish patterns that indicate accumulation. With any reversal pattern, there must be an existing trend to reverse.

The prevailing trend in Audible has been negative for more than 180 days. However, Audible is now trading north of all moving averages up to 90 days. This indicates the potential for a trend reversal.