Iris Energy's 15-Min Chart Signals MACD Death Cross, Bollinger Squeeze

The 15-minute chart for Iris Energy has exhibited a bearish signal with the occurrence of a MACD Death Cross, accompanied by a contraction in the Bollinger Bands as of 3:15 PM on July 26, 2024. This technical pattern suggests a possibility of a continuation in the downward trajectory of the stock's price, while also indicating a diminution in the volatility of its price movements.

The 15-minute chart for Iris Energy (IRSE) has shown a bearish signal with the occurrence of a MACD Death Cross and a contraction in the Bollinger Bands [1]. This technical pattern, which suggests a possible continuation of the downward trajectory in the stock's price, was identified at 3:15 PM on July 26, 2024.

The MACD Death Cross occurs when a short-term moving average crosses below a longer-term moving average [1]. This bearish signal was evident in IRSE's 15-minute chart when the 12-minute and 26-minute exponential moving averages (EMAs) served as the short-term and long-term moving averages, respectively.

A contraction in the Bollinger Bands, which measure volatility, further reinforces the bearish sentiment [1]. The Bollinger Bands for IRSE have narrowed, indicating a decrease in the stock's price volatility. This contraction can occur during periods of consolidation or before a significant price movement.

While the occurrence of a MACD Death Cross and a contraction in Bollinger Bands are not definitive indications of a prolonged downturn, they do suggest that the selling pressure may be dominating the market [1]. Historically, the death cross has been followed by above-average short-term returns, with the S&P 500 index higher a year after the death cross about two-thirds of the time [2]. However, the performance of individual stocks can vary significantly from the overall market.

It is essential to note that while these technical indicators suggest a bearish outlook for IRSE, they do not take into account fundamental factors such as company earnings, revenue growth, or economic conditions. Therefore, investors should consider conducting further research and analysis before making investment decisions based solely on technical indicators.

In conclusion, the bearish signals that emerged on Iris Energy's 15-minute chart on July 26, 2024, suggest a possible continuation of the downward trajectory in the stock's price. While this technical pattern does not guarantee a prolonged downturn, it does suggest that the selling pressure may be dominating the market.

[1] Ainvest. (2024, July 9). Preformed Line 15-Min Chart Shows MACD Death Cross, Bearish Marubozu. Retrieved from https://www.ainvest.com/news/preformed-line-15-min-chart-shows-macd-death-cross-bearish-marubozu-24071000eefe06f5a8b7a002/
[2] Investopedia. (n.d.). MACD Death Cross. Retrieved from https://www.investopedia.com/terms/m/macddeathcross.asp