IRIS trade ideas
IRIS - a cup of coffee (minus handle)In H4 chart, we observed cup and handle pattern and a possible 34% upside. MACD,Sto,RSI didn’t indicate any bullish signal. We believe the handle pattern will continue building along the channel, before testing resistance @ 0.375. Safer entry is to let the price close above EP price for a smoother upside.
EP 0.380
TP 0.425, 0.450, 0.495
SL 0.345
RRR 1:3
IRIS is a heavy stock with large float (50% float of 2970M shares), similar to its close sector competitor DSONIC (50% of 2700M shares), which could signal similar movement of price during sector play.
TAYOR
IRIS: POTENTIAL GO UP IN SHORT TERM?HI! THIS IS RISKY ENTRY BECAUSE SUPPORT AREA WAS WIDE, THEREFORE RISK:REWARD RATIO WAS NOT SO GOOD. JUST FOR SHORT TERM ONLY. BASED ON VOLUME, I THINK IRIS WILL GO UP TO TEST NEAR RESISTANT AREA. I'M JUST USING INTRADAY ANALYSIS FOR SHORT TERM.
tAYOR! (TRADE @ YOUR OWN RISK)
IRIS - Nice returns received over the last twelve months!While that might be a setback, it doesn't negate the nice returns received over the last twelve months. To wit, it had solidly beat the market, up 79%.
Notably mention!
Safe Zone:-
- TP/Buy.UP areas in between 0.305 til 0.335
-SL not lower than 0.285
IRIS - Beginning of New Cycle?Starting new cycle.
Impulse 5 wave and Corrective ABC completed. - See 1 day time frame on the right.
Possibility of ABC or impulse 5 wave.
Now either at the start of wave C or Wave 3.
Trading Plan
Looks more like ABC Zig Zag
TP 1 : 61.8% of wave C @ 0.34
TP2 : 100% of Wave C @ 0.38
Or TP when there is clear 5 waves of C completed
EP : When price breaks 0.305
CL : if price goes below 0.300
