IREN Cup & Handle in the makingIREN is in the process of making a cup & Handle. With huge upside until 25. The stock needs to be monitored for the upcoming days.
IREN trade ideas
Long IREN - because Christmas is almost here.Uptrend is still intact and my algo says "buy" so that's what I'm gonna do. It hasn't let me down yet with IREN.
Per my usual strategy, I'll add to my position at the close on any day it still rates as a “buy” and I will use FPC (first profitable close) to exit any lot on the day it closes at any profit.
As always - this is intended as "edutainment" and my perspective on what I am or would be doing, not a recommendation for you to buy or sell. Act accordingly and invest at your own risk. DYOR and only make investments that make good financial sense for you in your current situation.
Long IREN vs. the shorts?Today, a firm sent out a notice that they are short IREN so I'm going long. Their track record suggests going long when they say go short is a potentially very profitable short term strategy. They are often correct long-term, but sometimes a short wouldn't survive a margin call and short-term a contrarian long play can often yield 30-500%
Some of their recent calls:
Short call opening price the next day was 28.90. Peaked at over 40 within 2 weeks. Up over 30% in 2 weeks going long.
Short - rallied 7 of the next 8 trading days for a 30% gain.Re-iterated short again about a month after the first call and the close 1 month after the second one was 14% higher.
Short - you'd have made over 400% in 7 months going long against them this time. Even now, the price of the stock is 143% higher than when they made their short call. Good luck on that margin call or even the interest charges on that margin for that matter.
Short - they made this short call on the day of the absolute low close since the call. It closed up over 400% less than 6 months later and is still up over 300% since the call.
Short - stock rallied almost 500% in 4 months after this call... "Hello this is your broker, we're gonna need a LOT more money in your margin account".
There's a bunch more but I think I've made my point. They can be right long term, and still be very, VERY wrong short term. Both things can be true. If you'd have shorted some of these, many people would have been wiped out by the margin calls on some of these before you could ever make money. And you only get to get wiped out once. Shorting is VERY dangerous.
Also don't forget that margin interest runs around 8-10% now. It's "free" to go long provided you aren't using margin to buy (I never would) and very expensive to short these stocks unless you are correct right away. Anyone who knew ahead of time what they were shorting could make a pile on the day the news comes out, for sure. But WE don't know what the stocks are ahead of time. Only they do. But there's money to be made by us regulars when those shorts have to be covered during a squeeze or they take profits.
Props to them for leaving their research up on their website and Twitter and standing by their calls. If you have the margin call cash and the iron stones it takes to watch a shorted stock rise 500% before it falls, you can make money with some of their calls and you're a LOT braver (and richer) than I am. Shorting carries unlimited downside risk and a max gain of 100% (minus margin interest) - remember that.
Don't get me wrong, I respect short side research and there's a lot of validity to some of it. They are spectacularly correct sometimes and can do great things to protect buy and holders of individual stocks. But I'm not a long term owner of the company, just a trader of the stock. And after doing some research, the fact is, there's a lot of money to be made short-term by trading against them. This is the beauty of free markets - differing opinions create exploitable situations. I'm really glad I stumbled on that news flash.
And for the record, no I'm not naming the firm or the tickers they made calls on, as I don't wanna run afoul of the Tradingview's rules on using others' proprietary info, etc. I like this place too much and don't wanna get run off. You can look it all up for yourself easily enough with Google and the info I've shared here.
And btw - I'm not suggesting investing in IREN or any other stock, this is just my thoughts on the matter and what I'm going to do with the information. Please make your own WISE investment decisions.
IREN a fresh reviewIREN has been moving upwards swiftly due to BTC 100k
Now we take a fresh look at IREN
it formed a double top which is a bearish sign and hence I took profit out of IREN at the double top high that is around 15$ area
So far its respecting the 50 day MA very nicely but there is a also an amazing cup formation which is leading me to think about it long term and therefore I would only now recommend entries after the 16$ barrier is breached.
As of now the latest strong support is 13.60 area . and if it goes further down then get ready for a support at 9$
Technically I wouldn't recommend buying anything which is in a bear tren therefore I would only recommend buying at a breakout of 16$
Entry when a daily candle close above 16$
Stop loss would be 13$
$IREN - All Time Highs In Site! 90%+ Potential UpsideChart #7/ 40: NASDAQ:IREN 🇮🇪
-Cup&Handle needs to breakout at $13.60
-H5 Indicator is Green
-Volume Shelf Launch with AVP GAP
-Williams Consolidation Box Thriving
🎯 $21📏 $31⏳ Before 2027
NFA
IREN's most important channel to watch!Hello Tradingview community!
As always: If this pattern I'm showcasing doesn't work as predicted..
then please don't come crying to me (ty) -> NFA DYOR
Alright the channel/chart explains itself as you can tell
But here is my short description:
This chart has been respected for 2 years now and still is -
What targets do I have for EOY?
Well anything from bearish 7ish to even bullish 25ish
But my conservative target is 14-15 dollars EOY (NFA)
BOOST and follow for more!
NFA DYOR <<<-----
IREN Bullish BreakoutIREN as per FIB is about to enter the golden pocket
IRen breakout is confirming a strong bullish movement
Enter @ 11+
Stop Loss @ 8.20
TP @ 13+
Its a beautiful breakout
Ring the Siren, It's time to buy IREN - Targeting $45 Why am I bullish IREN?
AI Cloud Services Growth: Iris Energy's AI Cloud Services division is expected to generate $32 million in annualized profits. This is a new strategic move that leverages their existing infrastructure to diversify revenue streams beyond Bitcoin mining
Increased Bitcoin Mining Output: For September 2024, Iris Energy mined 347 Bitcoin, with an average hashrate of 16.5 EH/s. The company continues to expand its mining capacity, contributing to higher output
Expansion and Partnerships: Iris Energy has been rapidly scaling its operations. They recently purchased NVIDIA H200 GPUs to support their AI cloud business, and they extended a contract with Poolside to upsize their AI Cloud Services, enhancing their overall service portfolio
These factors indicate both short-term revenue boosts and longer-term strategic growth, making IREN an attractive play in both crypto mining and AI infrastructure sectors.
Jus Askin... What's Happenin!!!Is this Bull Flagging???
Is that 63450 Support??
Is this in the bottom of it's next leg up???
Which of these are gonna run with it??? NASDAQ:MARA NASDAQ:RIOT NASDAQ:CLSK
$IREN - time to go miningNASDAQ:IREN - the perfect chart doesn't exist, or does it? After the substantial sell off from the July high, IREN has now retraced 50%. There is a beautiful trend line from the start of the rally to around the current level. From the start of the rally in November of 2023 to the July 2024 high, a Fib Retracement has been drawn. Interestingly enough the .618 golden ratio sits at $7.84 - only 1% away from the current price. A decent earnings report and business prospects make this the perfect time to load the boat.
$IREN Looking to run with energy#IREN Breaking out on 4hr time frame, and historically looking to break support.
Iris Energy - Undervalued with a Growth Strategy Iris doesn't provide monthly updates so we'll have to track their growth over a quarterly basis. Here are some of the Key Highlights from the most recent update :
1.6 EH/s acquisition of new-generation Bitmain T21 miners (19 J/TH)
$14/TH purchase price ($22.3 million)1
Fulfills the Company's goal of expanding self-mining capacity to 10 EH/s:
Current: 5.6 EH/s operating
Shipping Q1 2024: 1.4 EH/s Bitmain S21 miners
Shipping Q1 2024: 1.3 EH/s Bitmain T21 miners
Shipping Q2 2024: 1.6 EH/s Bitmain T21 miners
80MW expansion at Childress is on track, supporting the increase in operating hashrate from 5.6 EH/s to 10 EH/s
Improved overall fleet efficiency from 29.5 J/TH to 24.8 J/TH
Iris Energy is acquiring 8,380 new-generation T21 miners from Bitmain Technologies Delaware Limited for a purchase price of $14/TH ($22.3 million, payable in progressive instalments). Shipping is scheduled for Q2 2024.
Iris Energy has no debt, plans to grow to 30 exahash, no HODL strategy (100% of Bitcoin mined is sold) and are also pursuing an AI strategy in 2024. I'll be interested in adding more shares if we can get back to the 5-6 area.
IREN Swing ShortNot a great entry, not a great choice of strike price either.
Is what it is, learn and move forward.
Aug 16 $10 Puts
Target $7
Double by Year End in the Boom Boom RoomIf you dont see $20 by year end, then your culo is stuck in a culo. Easy as that. There are better plays with more torque, but this one will give you at least a 1x. NYSE:AG
IREN - Full Breakout Now OnLets be real here, most BTC miners look in bad shape and this is a dicey market.
Top tier miner MARA you might think is warming up, but I say it is having a dead cat bounce.
So perhaps a change of guard is happening and market favour has shifted in favour of IREN.
IREN is the clear winner in this area and the only clean chart.
Higher time frame contraction pattern has led to a pump.
And from there was a lower time frame contraction pattern into a continuing pump.
These are both cause building events and now breaking above the top, the sky is the limit of how how this could go.
Its not without risk though.
If Bitcoin were to wobble then this could have significant downside.
But currently Bitcoin looks gentle and stable which is ideal for this pump to continue.
Apparently IREN is a big deal in miners.
This is apparently the market favourite.
Not advice.
IREN has the Arch Deluxe to Save the DayLots going on here. Its in a channel, the arch is time tested and the Fibs show up to maybe come save the day.
I think it has 10% tops to decline to touch the arch from here. You just have to ask yourself, do you believe in magic?
IREN bullish trend starting Looks like bullish movement is starting up slowly
momentum is catching up
$IREN 3D TFThe price continue to arrive a projected target after a 5 wave structure leaving behind weak highs. We are approaching the 3D 36 EMA right into area where I expect a strong bounce to make new highs. Short term targets at ~$30 seem reasonable given TA and fundamental analysis.
Wave 5 terminationUsing EW, we can see the 5 distinct waves and what looks like wave 5 termination. It’s possible we still get one last push to $16-17 from the final wave though that’s not a given. Especially given that BTC is in a clear wave 4 that will be a slow painful bleed down to 35-40k.
There are three scenarios here.% Google translation. Please understand.
IREN has three scenarios.
1. Stock prices break out this week.
This scenario is relatively high risk. This is because it is difficult for him to be sure that institutional investors would have bought the stock through sufficient adjustments.
In this case, it is recommended to invest only a small amount and set a tight stop loss.
2. The stock price breaks out in about two weeks.
This scenario is relatively low risk. Stocks that have gone through a healthy correction are likely to post big returns. It would be okay to buy more aggressively than in scenario 1.
3. Stock prices break through previous lows and fall.
It means that the direction of the stock price has changed to downward. Never buy stocks.
However, the stock price is likely to follow one of scenarios 1 and 2.
The reason is simple. This is because the price of Bitcoin is currently in a position where there is a high possibility that it will rise again. Bitcoin has touched the previous support level and is rising again.
IRIS ENERGY #IREN #BITCOIN MINER target moon mission to $47.50This idea needed updating
Same idea and thesis but a new right shoulder has presented itself
and now we have a horizontal neckline
beautiful!
Please smash the like if you like where this stock could go
Iris Energy Limited (IREN) - Daily Chart Technical AnalysisCurrent Price: $10.53
Analysis Date: 6-8-24
Chart Timeframe: Daily
Iris Energy Limited (IREN) exhibits a robust upward trajectory, supported by a series of technical indicators that underscore a strong bullish momentum. Recent price action has convincingly breached previous resistance levels, suggesting potential for further appreciation. This analysis provides strategic entry and exit points, backed by technical insights.
Technical Evaluation:
Moving Averages:
20-day EMA (7.71) and 50-day EMA (6.51): IREN’s current price significantly surpasses both the 20-day and 50-day EMAs, indicating sustained bullish momentum. The positive divergence between the short-term and medium-term EMAs further validates the upward trend.
Volume Analysis:
The recent upward price movement is accompanied by a notable increase in volume, affirming the strength of the bullish push and suggesting that the move has solid market participation.
MACD Indicator:
The MACD line remains above the signal line and exhibits an expanding divergence, a clear bullish signal. The continuation of this trend points towards sustained buying pressure.
Average Directional Index (ADX):
With an ADX value of 41.45, the trend strength is exceptionally strong. Typically, an ADX above 25 indicates a strong trend, and values above 40 represent very strong trends, corroborating the current powerful upward movement in IREN’s price.
Market Behavior and Strategy:
Breakout Confirmation: The recent breach of the $10.00 resistance level, now likely to act as support, provides a solid foundation for new bullish entries. The stock’s ability to maintain above this threshold on subsequent pullbacks will be critical for continued bullish assertions.
Entry Strategy: Traders should consider entries on minor retracements towards the $10.00 mark, leveraging it as a support level for enhanced risk-reward ratios.
Stop-Loss Considerations: To mitigate risks from potential reversals, setting a stop-loss around $9.50 is prudent. This level allows room for the stock to maneuver while protecting against larger downside risks.
Price Target: The immediate price target is set at the next resistance level of $12.44, ascertained from previous price peaks. Adjustments should be dynamic, based on ongoing price action and emerging market conditions.
Risk Assessment:
Volatility Sensitivity: Investors should be aware of the inherent volatility associated with stocks displaying such vigorous price movements. Sudden shifts in market sentiment could precipitate sharp corrections.
Monitoring Overbought Indicators: Utilizing tools like the RSI to gauge overbought conditions is essential. An approach into overbought territory may signal upcoming price consolidations or pullbacks, necessitating readiness for potential strategy adjustments.
Disclaimer
The content provided in this analysis represents the personal views and opinions of the author and should not be interpreted as specific investment advice. This analysis is for informational purposes only and does not constitute a recommendation to buy or sell any securities. While the data and information contained herein are obtained from sources believed to be reliable, accuracy cannot be guaranteed. Investors are advised to conduct their own due diligence and consult with a qualified financial advisor before making any investment decisions. The author does not accept liability for any loss or damage arising from the use of this analysis. Please refer to the full terms and conditions of use for more details.
