Technical Summary: The EBOS stock has been in a consolidation period for the last year. This stock appears to be consolidating its stellar gains of late 2015 and all of 2016, where the stock doubled (see 5 year chart). As we go from left to right on the chart the trading range for the stock appears to be tightening. We would consider this as constructive as it is a possible indiciation that sellers may be disappearing from the stock. This can be seen on the chart with the sell offs becoming less severe and the stock appearing develop a flag formation. We would like to see confirmation of buyers coming back into the stock before buying here. Investors can be patient, they should look for the stock to make a low
above the previous high before considering the stock. Ideally this would also involve a break out above the triangle on heavier than normal volume. This would indicate buyers coming into the stock. A break to a lower low would be bearish.