Sell signal, third week: lower lows still in control
IREN drops 18.3% as its Sell signal keeps making lower lows
Sell signal, third week: lower lows still in control
Our view last week
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.
This week's summary
This week IREN Limited dropped 18.3%, though a clean double bottom formed intraweek in the 37 area with a 23% intermediate rebound off the lows — a bounce the tape didn't back: sellers ruled the last bar to an extreme and distribution stays heavy. The Sell signal, now in its third week, keeps making lower lows; the short already sits at 13.4% profit. IREN stock stays high-risk per our model for a fresh opening.
IQS Phase
74
in tension
Signal Strength
51
decline starting to make lower lows
Sizing
STANDARD
Ranking
#62 / 140
US stocks sell signals
Trade P&L %
+13.40%
from signal to today
restricted Platinum content