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Hudson City Bancorp (HCBK) breaking out of the coil

hudson-city-bancorp-swing-trading-breakoutStock: Hudson City Bancorp (HCBK)

Long or Short: Long

Entry: 8.73

Stop-Loss: 8.49

Chart: Hudson City Bancorp (HCBK) Daily

hudson-city-bancorp-swing-trading-breakout-of ascending-triangle

Reason for Trade: HCBK has all the ideal traits for a stock that is wanting to move higher: 1) At new (recent) highs, 2) Ascending Triangle Breakout 3) Long period of coiling sideways before breaking out. Nice confirmation across the board as well with most other regional banks setting up nicely too. 

 

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ryan1Ryan (@shareplanner) specializes in swing trading strategies and is the founder of SharePlanner which he created to help and teach others on how to trade stocks better using multiple approaches and time frames. Each day you can count on Ryan to provide his trading advice as well as transparency in every trade that he makes. Ryan Mallory resides in Central Florida with a wife of seven years as well as one lively son. More >>

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