The Ascending Triangle Pattern is formed when a chart has higher and higher lows with a resistance level it cannot break through. This is commonly a battle being fought hard by the buyers of a stock. The stock’s intraday highs are not increasing, but its average intraday price is.
With the above chart you can see the bullish nature of the Ascending Triangle Pattern. The chart clearly shows how the buyers are pushing the lows of the stock up higher and higher. Should the pattern continue the buyers will eventually have a face-off with the sellers at the resistance price. Most often the buyers win this battle and push the stock through its resistance level usually causing a nice run.
The above image shows an example of an Ascending Triangle Pattern that resulted in the stock eventually breaking through resistance and having a nice bullish run.