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DPharmaTrader

$IREN Breakout

Long
Iris Energy Limited (NASDAQ:IREN)  
DPharmaTrader Updated   
NASDAQ:IREN   Iris Energy Limited
Chart Patterns
4
0
chartpattern

- IREN went up 139% in a couple of weeks with high volume.
- orderly pullback
- Found support at a key level from August 2022
- ADR- >10%
- Breakout with a potential +20% upside
- Target= overhead resistance ~8.50
Comment:
- Price has fallen continuing on to a key long term level
- If support established here ($5.15-$5.29) it would present an even better long entry point with SL placed arround $4.90
- Potential for a 5R trade with exit ~$7.50
Comment:
Potential for a +45% upside from consolidation around $4.30
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