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

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Iron Mountain (NYSE:IRM) based on the price action in the company's shares. Yesterday's price range of $23.64 and $23.87 is within the prior day'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. Traders and investors interested in shares of Iron Mountain may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Iron Mountain (NYSE:IRM) has potential upside of 56.2% based on a current price of $24.43 and analysts' consensus price target of $38.17. The stock should find initial resistance at its 50-day moving average (MA) of $27.42 and further resistance at its 200-day MA of $30.86.

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, Iron Mountain share prices have been bracketed by a low of $21.02 and a high of $36.52 and closed yesterday at $24.43, 16% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 1.7%.

SmarTrend is tracking the current trend status for Iron Mountain and will alert subscribers who have IRM in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle Iron Mountain

Ticker(s): IRM