Sell signal, week 2: a bounce without confirmation
IREN bounces 6%: the decline stalls, but distribution keeps going
Sell signal, week 2: a bounce without confirmation
Our view last week
A new sell signal fires on IREN: the week just closed down 17.8%, with the decline making lower lows and its pace holding. The stock ranks 35th among the 137 US sell signals, but stays high-risk per our model.
This week's summary
After last week's 17.8% plunge, IREN stock bounced 6% - but without convincing: sellers stayed slightly in control on the last bar, and the stock remains in a full distribution phase. IREN's technical picture shows a decline that has stopped carving fresh lows but hasn't yet found the push to turn around, on a particularly volatile name. IREN ranks 32nd among the 137 US sell signals, and stays high-risk per our model.
IQS Phase
72
in tension
Signal Strength
35
decline losing steam
Sizing
REDUCED
Ranking
#32 / 137
US stocks sell signals
Trade P&L %
-5.98%
from signal to today
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