Buy signal · confirmation week closes lower
IREN drops 5.4% and slips back below its 50-week average in the confirmation week
Our view last week
A week ago 99% of volume was on the buy side; this week sellers took back the weekly bar to an extreme and the stock fell 5.5%, with a bearish engulfing on the daily chart. IREN stock enters its fresh buy signal with price action in distribution: technical analysis shows it pinned between the 20-day and the 20-week moving averages, both in the 44 area. High signal strength, a wide and volatile move: a cautious entry.
This week's summary
A second straight weekly decline for IREN: the stock drops 5.4% and slips back below its 50-week moving average, in the 41.8 area, and below the 20-week average too. The buy signal that fired last week fails its confirmation: IREN stock closes the follow-up week lower, with contracting volumes and the weekly MACD under its Signal line. Technical analysis does show weekly money flow back in positive territory after 14 weeks. A wide, volatile move: the price action calls for discipline.
IQS Phase
33
ordinary
Signal Strength
87
high · wide & volatile
Sizing
FULL
Ranking
#43 / 93
US stocks in progress
Trade P&L %
-5.36%
from signal to date, no stop loss
Rank position
ranks 43rd among the 93 Longs already running for US stocks in our ranking, with a signal strength of 87 out of 100.
Sector context
SectorGrowth Tech
Benchmark ETFXLK
Sector regimein strong phase
Performanceweekly +1.80% · monthly +8.83%
IREN belongs to the growth tech sector (reference ETF XLK). The sector is classified in strong phase according to our weekly reading.
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