The market direction remains in a sideways trend, but there's potential for a rebound as prices have hit a lower limit around 0.0.28, indicating accumulation by buyers at this level. This accumulation is signaled by the algorithm, with the appearance of blue signals occurring multiple times before during rebounds above the support level.
On Fri 24 Feb Iris had reported its Qr and the result was considerably good. The market reacted to the result by pushing the share price which was struggling to even hold at 0.110 at that time to close at 0.120. On the chart wise, 1) the volume is still low (below 14 ma) indicates Sellers are weakening and Buyer's low appetite. 2) the stochastic is in oversold...
Iris Corp is the awarded company with a Rm 1.1b Niise project after SKIN project had been terminated. Only that, recently there is an investigation on the appropriateness conduct during the award process. The share price had tanked since the announcement it won Niise project until today. Currently there is a huge battlefield between Sellers and Buyers at around...
IRIS complete downtrend sequence and The double-bottom pattern
Can try to take a long position on IRIS as spotted rebounding at fibo786 in weekly chart with a volatility change to positive. Probably retracement EP would be at current price and TP at fibo618 in weekly chart. CL when the volatility changes to negative as depicted in the proposed trade plan.
IRIS break daily downrendline with RSI bullish divergence. FIBO 0.21 passed.Next test 0.255. if success, will go towards 0.30
Can monitor if price BO and closed above trendline (yellow line) Watchout for volume from Banker Increasing. #TAYOR MYX:IRIS #credittoZQAnalysis
Iris had started forming a Bullish Falling Triangle pattern on somewhere in Mid Jan '21. Eventhough they had been awarded with goverment project (NIIS) in March, the pattern keep intact. Recently the triangle band had become narrowed. I anticipate that Iris had done it's final pullback and ready to breakout from the pattern. Currently: 1) it had reached the 0.205...
daily divergence is spotted on daily chart stochastic oversold.
My prediction using method Chart Pattern + Fibonnaci Retracement + Trendline
IRIS has started to go bullish. There is a possibility to complete the pattern. You can take a long / buy and TP around 0.320-0.325 and a stoploss around 0.265 Risk : Reward of 1:3 Please take care of your money management
Weekly already oversold. Daily just cross EMA50 with solid volume. Daily already break short down trendline. Daily price already backs to the up trendline channel. Therefore, IRIS have the potential to start to rebound.
Trade ideas for this counter. Bias more to sell..Need to break 0.45 to further uptrend.
We noticed a Bullish breakout above DTL1, strengthen our Bullish view on earlier post on Dec 3. However, the price has made a return move on recent week, remain above support marked as S1. Nearest support is at 0.33 and a price movement below S2 at 0.24 will negate this Bullish view.
Starting last week, the trend starting to downtrend. On 2 Mac already break support 0.360. Current indicator: - Stochastic drop to Oversold - Momentum below 0 - Huge distribution activity - No Banker Chip In activity Projection: - Trend will continue down if break intermediate support 0.315. - Trend will heavily down if break 0.270. Trend Reversal: - If trend...