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Possible Bearish Inside Day Candle Pattern Detected for Iron Mountain (NYSE:IRM)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Iron Mountain (NYSE:IRM) based on the price action in the company's shares. Today's price range of $33.20 and $33.51 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Iron Mountain may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Iron Mountain Incorporated is a storage and information management company. The Company provides records management, data management solutions, and information destruction services.

In the past 52 weeks, shares of Iron Mountain have traded between a low of $29.28 and a high of $37.32 and are now at $33.35, which is 14% above that low price. The 200-day and 50-day moving averages have moved 0.02% lower and 0.38% higher over the past week, respectively.

There is potential upside of 14.4% for shares of Iron Mountain based on a current price of $33.35 and an average consensus analyst price target of $38.17. The stock should discover initial support at its 200-day moving average (MA) of $33.22 and subsequent support at its 50-day MA of $31.08.

SmarTrend is monitoring the recent change of momentum in Iron Mountain. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Iron Mountain in search of a potential trend change.

Keywords: bearish inside day candle Iron Mountain

Ticker(s): IRM