Breakout Alert 3: $PNX (Update 2017-09-20)

On July 19, 2017, $PNX broke out from its 52-week high preceded by increasing volume in the past few days. Buy above exit price.

Pros:

• Trending up since March of 2016.
• Recovering oil prices.
• Gross revenue and net income, for the first quarter of 2017, grew by 35% and 11% respectively (based on their 1Q17 quarterly report).
• There are more above-average green volume than above-average red volume—a clear sign of accumulation.

Con:

• Net profit margin, for the first quarter of 2017, decreased by 18%.

Update (September 20, 2017):

Exit price now at 11.97/share.

CAVEAT EMPTOR