IRM showing a cup and handle pattern. A little late on this one but still means this is showing signs of a solid uptrend. The recent market activity has not been favorable to breakout traders but this setup worked and showed a breakout on 8/31 past the handle on strong volume.
Only bear case here is that it is extended from the MA and would not offer a good entry point at current prices. IMO, everything is over-extended right now but I am keeping this stock on the list of viable candidates once we get a shorter term correction.
Only bear case here is that it is extended from the MA and would not offer a good entry point at current prices. IMO, everything is over-extended right now but I am keeping this stock on the list of viable candidates once we get a shorter term correction.