IRM closes below its opening price unable to hold early session gains

Iron Mountain Incorporated (IRM) Technical Analysis Report for Jul 13, 2018

Highlights

IRM closes below its opening price unable to hold early session gains
IRM finds buyers again around 36.56
IRM closes within previous day's range after lackluster session

TQ Sentiment

Report Sentiment: 40% Bearish
Technical Forecast:

Overview

IRM finished the week 2.09% higher at 36.64 after losing $0.10 (-0.27%) today. Trading $0.15 higher after the open, the share was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session.

Daily chart for IRM

Volatility

Friday's trading range was $0.39 (1.06%), that's below last trading month's daily average range of $0.60. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being way above average.

Price Action

Notwithstanding a strong opening Iron Mountain closed below the prior day's open and close, forming a bearish Engulfing Candle.

Support/Resistance

After having been unable to move lower than 36.48 in the previous session, the market found buyers again around the same price level today at 36.56.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Order Flow

Selling might speed up should prices move below the nearby swing low at 36.09 where further sell stops could get triggered.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Market Conditions for Iron Mountain Incorporated

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Latest Report:

IRM pushes through 50-day moving average

Sep 21, 2018
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