Climb The Mountain (IRM)

by | Feb 6, 2024

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.

WRITTEN BY<br>Scott Welsh

WRITTEN BY
Scott Welsh

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