Looking around, there are several stocks that have had great upward momentum recently but have paused inside a tight sideways channel.
Iron Mountain (IRM) fits that bill.
Here’s the chart:
IRM is a different animal, though.
While it’s had great performance lately, it’s not an explosive high-flyer.
It’s a boring company that stores our important documents in a mountain.
Literally.
It’s the type of company that isn’t growing to the moon and isn’t going anywhere either.
Plus it pays a nice dividend if a trader wanted to enter before the breakout level up at $70.66
We’ll keep an eye on it.
Happy trading,
— Scott Welsh
P.S. As a reminder, these plays are based on my longer-term Weinstein Stage Analysis method. The chart above uses weekly candles and a 30 week simple moving average. For details on this method, see my explanation on this Ask The Pros episode starting at timestamp 20:45.
