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Iress Ltd

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IRE trade ideas

IRE - Possible Breakout!IRE seems to be breaking out of the descending triangle with High Volume, suggesting it may be ready to go higher. We also have a Bullish Cross on the MACD and it seems that this could move higher with force. My target for this trade will be the next resistance level of $10.90, which could be a potential 6.00% gain and TP@ at $11.25 giving a potential gain of 10%. Please note these are my own notes, by no means trading advice. Please do your own research before entering into any trade.
ASX:IRELong
by AsimMirzaTrader
IRESS LIMITED (ASX:IRE) Potential buy? Insiders think soIRESS is another software company listed on the ASX where it is a provider of financial data and markets as well as asset management. Unlike the recent boom in tech stocks IRE has trailed behind and has not recovered to pre pandemic evaluation. However there may be something we don't know that could make IRE a potential buy. Recently (As off the 22nd of Feb) a non executive director Roger Sharp has made a 10,000 share investment at $9.98 according to Market Index. There is also other supporting fundamental analysis news as well as TA which I will further discuss to come to an overall conclusion of the stock. Bullish Technical Analysis: --> Oversold RSI (38) --> Oversold Stochastic RSI --> Bollinger bands oversold --> Bullish Harami pattern (From 25/02/2021) This TA alert was also executed on the (3/11/2020) and resulted in a 12% increase and therefore can be taken into consideration for a bullish trade Bearish Technical Analysis: --> Bearish volume as from my BuySell volume indicator has shown that there has been increased selling in shares and may possibly inhibit a bullish reversal --> Bearish MACD shows the bears are controlling IRE however due to its lagging nature should be reconsidered. Bullish Fundamental Analysis: --> Director Roger Sharp make a $100k investment on the 22nd which should be taken under consideration --> Past earnings showed an increased profit growth from 7-10% --> A new partnership has emerged with Knowledge bank where they seek to create the first "United Kingdom fully integrated product and sourcing system". More details on partnership: www.mortgageintroducer.com Bearish Fundamental Analysis: --> ASX seems to have bearish direction which may inhibit a long trade Overall conclusion: I would consider this stock a buying opportunity, With insider trading it shows that internal shareholders believe in IRE's future which alone acts as a major catalyst for a trade. Technicals also support a long trade so overall I would say this has potential for a swing trade or even an investment. Any thoughts and ideas of IRE's future will be great :)
ASX:IRELong
by Mikey_Scali
2