Iris Energy Ltd (IREN)

[JJ8]

IREN appears to be consolidating within a longer-term uptrend. The Average Directional Index, or ADX, is below 20, indicating that shares have traded sideways recently. However, the 200-day is still sloping bullishly upwards. Comparative Relative Strength analysis shows that this issue is lagging the S&P 500.
Momentum for IREN is strongly bearish. The 14-period Slow Stochastic oscillator is below 20, the level which many analysts call oversold. This means that investors have been actively selling shares and driving the price lower.
The last 10-days have seen significant volume in IREN, with average daily volume above the average for the last year. Today's volume is no exception; with 893,922 shares having been traded already. The On Balance Volume indicator (OBV) is bearish. The slope of the indicator is negative and suggests that there is a lack of buying interest. As of 12:47 PM ET Monday, 11/20/2023 GLTA