IREN Should I Buy

Not a good buy right now. Despite a broader uptrend (bullish moving averages) and bullish-leaning options positioning, the stock just sold off ~5% on the day, MACD momentum is fading, short-term pattern stats skew negative over the next week/month, and recent Congress activity is all selling. With no Intellectia buy signals today and earnings on 2026-02-05, the risk/reward for an impatient buyer is not compelling at ~$60 (near resistance), so I would hold/avoid initiating here.

Trend/structure: Bullish longer-term structure with SMA_5 > SMA_20 > SMA_200, but the latest session was a sharp pullback (regular market -4.93%), suggesting near-term digestion. Momentum: MACD histogram is positive (1.044) but contracting, indicating bullish momentum is weakening rather than accelerating. RSI_6 at ~61.6 is neutral-to-slightly-strong, not overbought, but also not a clear “oversold dip-buy” trigger. Levels: Pivot support ~56.19 (key line to hold). Immediate resistance R1 ~61.83 (price ~60 is close to resistance rather than support), next resistance R2 ~65.31. If weakness continues, S1 ~50.55 is the next major downside zone. Statistical near-term bias (pattern analogs): 40% chance of +2.32% next day, but expected -6.14% next week and -5.43% next month—near-term skew is bearish. Intellectia Proprietary Trading Signals - [AI Stock Picker](module://ai_stock_pick): no signal on given stock today. - [SwingMax](module://swingmax): No signal on given stock recently.