Stock Analysis: Today best trade idea 2024- IRIS ENERGY LIMITED (Iris Energy).
Trade Details: Monday’s price closed at 12.00 $. Monthly time frame according IRIS ENERGY stock price is trading in a down trend.
![IRIS ENERGY LIMITED Monthly](https://desieconomist.com/wp-content/uploads/2024/07/IRIS-ENERGY-LIMITED-Monthly-1024x463.png)
Price continues to create LL-LH in structure, respectively.
![IRIS ENERGY LIMITED weekly](https://desieconomist.com/wp-content/uploads/2024/07/IRIS-ENERGY-LIMITED-weekly-1024x463.png)
Weekly time frame according to price moves in the rising wedge. Iris energy stock price retraces to the supply zone level.
We can also see ultra-high volume in the chart. Accordingly, the current scnerio market could be move down &
touch the 6.50 price level.
NOTE: If price 19.24 breaks and closes above the supply zone, then the setup is invalid.
Swing Trade Idea’s:
Entry price = 12–14
SL Price = 19.24
Target 1: @ = 8.30
Target 2: @ = 6.70
Target 3: @ = 5.50
Note: Keep trailing your stop loss to secure bigger profits.
Please note this is only an opinion and not financial advice.
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