$IREN ($24.91) Seller Exhaustion Signal: Why Friday's 41% Volume Drop at the $24.86 Floor Sets Up a High-Beta Reversal
$IREN Ltd(IREN)$ took a 21% beating over the last 5 sessions, flushing to a $24.86 52-week low on Thursday on massive capitulation volume (66.75M shares). Look closely at what happened on Friday (Oct 23): price re-tested that exact floor ($24.88 low, closing at $24.91), but volume contracted by 41% down to 39.06M shares.
In Volume Spread Analysis (VSA), re-testing a climax low on sharply declining volume is a textbook signature of supply exhaustion. With a 5GW power pipeline, a live Microsoft contract, a J.P. Morgan double-upgrade to Buy, and a 4.27 beta, $IREN moves fast once supply clears. Here is the full technical map for the week
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- twinkle5·10-25 23:034.27 beta makes VSA retests way less trustworthy here. A 41% volume fade can just be volatility noise, especially with ROE at -79.88% still screaming risk1Report
- YTigger·10-26 09:52Nice pix. Using which AI chat to produceLikeReport