IRM anatomy of a swing trade
Iron Mountain
IRM
is a records and information management services company. Its share price has been falling rapidly as of late hence I would like to take the the opportunity to see how I use two of my custom indicators to identify trend changes and adapt accordingly
The daily chart of IRM is divided into 3 parts from top to bottom:
1. The share price
2. A custom bidirectional momentum indicator
As indicated by the green arrows, the latest correction is reflected by the momentum indicator moving in opposing directions at a high angle of attack. (think of the pincers of a lobster).
In general, the greater the gradient and smoothness of the indicator, the stronger the buy/sell signal.
3 A modified stochastic oscillator
Indicator I use to analyze market cycles. Custom period look back and smoothing is applied to represent the accumulation and distribution phases of a market or security. Applied to IRM, the indicator crosses over from its peak at the beginning of Jan 22 and moves downwards.
If we look back to the beginning to December , we can see a similar move to the up side (yellow arrows). These two indicators when combined can work synergistically to provide highly actionable trades on all timeframes.
IRM
is a records and information management services company. Its share price has been falling rapidly as of late hence I would like to take the the opportunity to see how I use two of my custom indicators to identify trend changes and adapt accordingly The daily chart of IRM is divided into 3 parts from top to bottom:
1. The share price
2. A custom bidirectional momentum indicator
As indicated by the green arrows, the latest correction is reflected by the momentum indicator moving in opposing directions at a high angle of attack. (think of the pincers of a lobster).
In general, the greater the gradient and smoothness of the indicator, the stronger the buy/sell signal.
3 A modified stochastic oscillator
Indicator I use to analyze market cycles. Custom period look back and smoothing is applied to represent the accumulation and distribution phases of a market or security. Applied to IRM, the indicator crosses over from its peak at the beginning of Jan 22 and moves downwards.
If we look back to the beginning to December , we can see a similar move to the up side (yellow arrows). These two indicators when combined can work synergistically to provide highly actionable trades on all timeframes.
Comment:
Taking a small initial position to the long side.
Will accumulate more if price action supports this view
Will accumulate more if price action supports this view
Comment:
Chart currently moving off double bottom towards upwards. Accumulating.
It looks like it may have stablished and I may update once I establish a position to the long side