IRDM broke out of resistance Friday and is following through strongly today. Maybe a little over extended but strong volume is on our side. 50MA just crossed the 150MA which is also a strong bullish signal, not one I personally trade on it’s own but when paired with my breakout criteria it is a bonus.
20EMA above 40EMA
50MA above 150MA
Multiple tests of Horizontal Resistance
2 Momentum Indicators showing bullish confirmation
Bullish Moving Average Crossover
High Volume
Follow Through of Breakout Candle
Let’s see how the trade turns out.
Classic breakout. All requirements in place before hand. Great breakout.
