Philips NV : Wait for the crossing of the EUR 23.3
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
€22.76 | €25.5 | €22.6 | +12.04% |
The security is in an upward trend for several months. A running out of steam is occurred with the contact of EUR 23.3 which is the highest recorded by this share. This movement is supported by the 20-day moving average and may stop any bearish inclinations. Exceeding the EUR 23.3 resistance will indicate a buy signal with a target price in the area of EUR 25.5.
Therefore, investors will benefit from the signal given by the crossing of the EUR 23.3 resistance to take a long position. The objective will be set near EUR 25.5. Once the position is opened, a stop loss should be fixed under effective entry point to guard against a trend reversal around EUR 22.6.