One new trade to reprot today and that is a swing trade long in Koninklijke Philips (PHG) at $25.41
The market today is showing signs of life after initially trading lower at the open. As I’ve mentioned in my recent trading plans, I do believe that Thanksgiving week will continue to be bullish and would not be surprised to see the market finish 7-10 points higher before we reach the close.
I entered today long on three positions: Illinois Tool Works (ITW), Comcast (CMCSA) and Aetna (AET). I’ve now added Koninklijke Philips (PHG) at $25.41 on the breakout of its continuation triangle it formed in recent weeks.
Comcast (CMCSA) is also nearing my profit target, so I’ll likely be taking profits in that stock today as well.
Stop-loss for PHG is at $24.60 with an ideal profit target of $27.00.
Here’s the chart for the Koninklijke Philips Swing Trade setup
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