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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