Host Hotel n Resort: Bullish Engulfing reversal pattern

Weekly Impulse allows to go long in the daily time-frame.




Bullish Engulfing reversal pattern formed.
The engulfing candle completes a non-ideal Morning Star bullish reversal candlestick pattern.
The pattern was formed below the 10d EMA and stochastic oscillator %D is below 20; this passes the candle pattern filtering.



Daily Impulse allows to go long.



Price and Lagging Line are above the cloud. (bullish indication)
GMMA long-term group has not narrowed; it is moving sideways in a parallel pattern with minimal amount of compression.
GMMA short-term group has penetrated the long-term group and then turned up.


Outcome:

24 Feb: Opened LONG at $16.04
5 Mar: Closed at $15.45
Reason for closing: There is no evidence of further buying after the Bullish Engulfing pattern.
Furthermore, the 13w EMA and weekly MACD-Histogram are now both sloping down, so weekly Impulse does not allow to keep LONG position open.
Loss $0.59, 3.7%