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https://investmentgems.net/2025/11/03/iren-msft-pop-fades-watch-56-58-support-76-breakout-line/ Quick map for anyone trading IREN after the Microsoft headline spike. The wick into the mid-$70s got sold pretty hard and we’re back in the prior range. Wyckoff lens says supply is still active near $75–76 (last swing high / failed thrust). Bulls need a daily close back ≥$70 to show demand is absorbing, and then a clean breakout through $76 on rising volume to kick off the next markup leg. On the downside, the line in the sand remains $56–58 (prior pivot shelf + high-volume node). Lose that on a daily close and the path opens to $52–54 (gap/20D volume shelf). RSI back to mid-60s and MACD fading = no momentum read yet; think “range until proven otherwise.” My playbook: Longs only on a reclaim -> hold of $70 and then add on a $76 breakout with volume. Defensive if we close <$58; below there this turns from “consolidation” into “distribution risk.” Fundamentals (MSFT contract, 2026 capacity ramp) are great, but price still has to beat supply at $76. Execution > headlines. Not advice submitted by /u/Brilliant_Builder697 to r/irenstocks |