Bearish potential detected for IRE

8 feb

Entry conditions:
(i) lower share price for IRE along with swing up of the DMI indicators and swing down of the RSI indicator, and
(ii) observation of market reaction at the support level at $9.03.

Stop loss for the trade would be:
(i) above the resistance level from the open of 9th September (i.e.: above $9.36), or
(ii) above the resistance level from the open of 21st August (i.e.: above $9.65), depending on risk tolerance.

15 feb

Ordine annullato

UPDATE (week ending 14-Feb): Trade abandoned since observation of market reaction at the support level of $9.03 showed that the RSI swung upwards (rather than downwards) when the share price tested the support level shown in the chart above. Since the share price ascended above the resistance level of $9.36, there's no point in tracking this potential trade any further - remove from watchlist.