Aug. 3 at 4:29 PM
$IREN is at an important technical level right now.
The stock is testing the 50-day moving average and the upper boundary of its wedge formation. From a technical perspective, this area could become a key battleground between buyers and sellers.
If resistance holds, I would not be surprised to see a pullback toward the
$34-
$30 range in the coming days or weeks.
That doesn’t mean the long-term AI infrastructure story has changed.
$IREN remains one of the more interesting names tied to data centers, energy capacity, and the AI compute buildout.
However, good companies can still experience sharp corrections, especially after strong rallies. Chasing green candles often leads to poor entries.
For me, patience matters here. I’d rather wait for a better risk/reward setup than force a position at resistance.
The long-term thesis remains interesting, but timing and discipline are just as important.
