$IRM has been in a “Go” trend since 9/11.
Price raced to a high of almost $105 but then stalled. At the high, we saw a Go Countertrend Correction Icon (red arrow) indicating that price may struggle to go higher in the short term. Indeed, price fell from the high and GoNoGo Trend painted weaker aqua bars. Concurrently, GoNoGo Oscillator fell to test the zero line from above where it was important to note if it found support. As it did, GoNoGo Trend showed that strength returned with bright blue bars. Now, with momentum resurgent in the direction of the “Go” trend, we see a Go Trend Continuation Icon (green circle) under the price bar, and so we will look to see if this gives price the push it needs to set a new high in the coming days.
