IREN cap 38 hit

Cap: close under is a hit. Close on the level is a push. Graded on the regular-session close.

A cap is a price above the market where a large amount of options positioning sits. The idea is that this positioning can slow a move up there, so the test is simple: does the stock close under it? When it was posted at 11:32 ET, IREN traded at 36.37, 4.3% below the cap. On the same map, the next level above was 40 and the next level below was 35. See the original post.

Price never closed a 5-minute bar on the wrong side of the cap. Its closest approach was 0.65 away (37.35); the session range was 35.19 to 37.35. In the last hour price moved down 0.59, from 35.78 to 35.19.

The regular-session close was 35.72, 2.28 (6.00%) under the cap at 38. Under the rule (cap: close under is a hit), that is a hit.

IREN fell with the AI infrastructure group after a SemiAnalysis report alleged outages and reliability problems at its British Columbia data centers. IREN finished the day down 7.7%, while SPY was down 0.4%.

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