PHG breaking out of ascending triangle pattern 

phg swing trade long strategyStock: Koninklijke Philips (PHG)

Long or Short: Long

Entry Range: $26.24 – 26.50

Stop-Loss: 25.83

Chart: Signet Jewelers Limited (SIG) Daily

Philips PHG swing trade long on ascending triangle brekout

Reason for Trade: I’ve been very choosy with my long setups over the past three days, but overall the selling that we’ve seen has been orderly and nothing of major concern at this point. So I’m going to try to add another position to the portfolio today, after having closed out SIG this morning at $54.75 for 1 4% gain. This will bring me back to a total of five positions that I am long in, and of course all five of them are long. 

One additional note, is the volume on PHG has been solid. Particularly the last three days. On the one down day, volume was weak, while the volume poured in on the days we moved higher. 

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