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Downtrend Broken Resist.Archive
- 4/5/2024 -
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Iron Mountain Inc. (IRM) Technical Analysis
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| Summary:
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| | It was the negative week for the Iron Mountain Inc. (IRM). During the week, the IRM dropped -1.57 points, or -1.96%, and closed at 78.64 on Friday, April 5, 2024. Weekly volume was -31% below average.
IRM is a member of Real Estate Sector. Real Estate is the second most oversold sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See IRM long-term trend chart]
A long-term uptrend had started on April 2, 2020 at 21.00 and reached 82.19 on March 8, 2024. IRM gained -61.19 points, or -291.38%, in 205 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 59.60 and resistance is at 91.92. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.
 Medium-term trend: [See IRM medium-term trend chart]
A medium-term uptrend had started on September 29, 2022 at 43.33 and reached 82.19 on March 8, 2024. IRM gained -38.86 points, or -89.68%, in 75 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (61.68) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See IRM weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is above its signal line since November 24, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.
 Short-term trend: [See IRM short-term trend chart]
A short-term downtrend had started on March 8, 2024 at 82.19 and reached 77.07 on March 14, 2024. IRM lost 5.12 points, or 6.23%, in 6 days. The price is now at the 30.66% retracement level.
 Daily Technical Indicators: [See IRM daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since March 13, 2024. This is an indication that the short-term trend is down.
The price is close to the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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