IREN Ltd

IREN remains entrenched in a Stage 4 decline with a bearish medium-term bias underscored by persistent lower highs and lower lows below declining EMAs. Short-term price is extended below the EMAs in extreme oversold territory, making aggressive selling untimely—thus we plan to trim on rallies into the 9EMA/21EMA resistance zone.

• ↑$9.7B Microsoft contract aiming to generate $1.94B ARR
• ↑AI Cloud Services revenue surged 94% QoQ to $33.6M
• ↓Negative earnings yield at -3.9% raises valuation concerns