Ezra attempted to break out of its descending triangle 2 days before Christmas with a bullish long white candle.
After spending much of the past couple of months in consolidation, it finally broke out of its 55 period EMA. It remains to be seen whether breaking turtle rule 20 day high will generate enough momentum to keep the trend up.
For this setup to be profitable, the volume will have to increase much more. I will be monitoring the volume closely in the next few days. Volume was lacklustre on christmas eve.
I am expecting a pullback in next few days, which should form a small flag. The entry trigger will be a signal that the pullback is over. This must be backed by the momentum indicator via MACD histogram and the very important volume.
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