IRM breaks below previous session low


Iron Mountain Incorporated (IRM) Technical Analysis Report for Aug 10, 2018 [1 min read]
Highlights
IRM tanks -2.43% closing $0.86 lower
IRM breaks key support level
IRM dominated by bears dragging the market lower throughout the day
IRM breaks below 200-day moving average
IRM closes lower for the 4th day in a row
TQ Sentiment
Report Sentiment: 55% Bearish
Technical Forecast:
Overview

Moving lower for the 4th day in a row, IRM finished the week -3.24% lower at 34.60 after tanking $0.86 (-2.43%) today. This is the biggest single day loss in over two weeks. Today's closing price of 34.60 marks the lowest close since July 27th. The bears were in full control today, moving the market lower throughout the whole session. Closing below Thursday's low at 35.40, the stock confirms its breakout through the prior session's low having traded $0.96 below it intraday.

Daily chart for IRM
Volatility

Friday's trading range was $0.75 (2.13%), that's slightly below last trading month's daily average range of $0.77. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average.

Support/Resistance

Prices are trading close to a key support level at 34.42. Breaking below the key support level at 35.14 today, it is now likely to act as resistance going forward.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term. The share broke below the 200-day moving average at 35.38 today for the first time since July 17th.

Order Flow

Selling could accelerate should prices move below the close-by swing low at 34.42 where further sell stops might get activated.

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
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
Decisive Up Move TQ Pro Members Only
White Candle TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
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