Sell signal under management, week 8
IREN drops 4.9% as sellers retake control with a bearish engulfing bar
Our view last week
After last week's rebound, IREN stock climbs another 6.9%, but buyers slip from 85% to 51% of volume: the move is losing steam. The Sell signal, under management since week 6, is still down 13.5%, with the weekly RSI at 49.5 and the week's candle stuck indecisive between support and resistance.
This week's summary
Last week IREN's buyers had dropped from 85% to 51% of volume, and the warning has now played out: this week the stock sheds 4.9%, sellers retake control with 66% of volume, and the daily chart prints a bearish engulfing bar. Money flow has stayed negative for 9 weeks. The Sell signal, under management since week 8, is now down 7.9%, with earnings coming up to add another variable.
IQS Phase
62
ordinary
Signal Strength
21
decline starting to make lower lows
Sizing
MINIMUM
Ranking
#53 / 93
US stocks
Trade P&L %
-7.88%
from signal to date, no stop loss
Rank position
ranks 53rd among the 93 sell signals for US stocks in our ranking, with a signal strength of 21 out of 100.
Sector context
SectorGrowth Tech
Benchmark ETFXLK
Sector regimeweak phase
Performanceweekly -3.53% · monthly +1.69%
IREN belongs to the growth tech sector (reference ETF XLK). The sector is classified weak phase according to our weekly reading.
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