Stock Market Technical Indicators & Analysis
IREN caught my eye when it hit an ATH on above average volume on Tuesday and closed back above its green line. Note the high volume GLB a few days ago. It has an IBD/MS COMP=94 and the ACC/DIS rating=A+, RS=99 and it is expected to become profitable this year.
IREN is a recent IPO and just broke its green line top from 11/2021. I like this monthly chart! It must not CLOSE back below its green line @28.25.
Note QQQ held the neckline (purple line). If QQQ can close above its right shoulder, the head and shoulders topping pattern will have been invalidated. If it starts down before that, it could mean a significant decline is on tap. Tomorrow’s action may tell us.
When a stock holds up while many other stocks are declining it is telling you something. GOOGL news broke that will likely propel the stock higher tomorrow. GOOGL held its green line through the recent market volatility. Some traders likely knew the news before it came out. A GLB should be held until the stock CLOSES below the green line. On Tuesday GOOGL traded intraday below the green line but closes above it near the day’s high. It has closed above the green line for 6 straight days.
