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- 1 IRM stock price is facing the 100 day EMA barrier.
- 2 Buyers are trying to surpass the immediate resistance zone of $65.
Iron Mountain Incorporated (NYSE: IRM) Iron Mountain, Inc. engages in the provision of storage and information management solutions. It operates through the following business segments: North American Records & Information Management Business, North American Data Management Business, Western European Business, Other International Business, Global Data Center Business and Corporate & Other Business. The company was founded by Herman Knaust in 1951 and is headquartered in Portsmouth, NH.
Will IRM Stock Surge to $100 by 2023?
IRM stock will post the Q3 numbers today. Analysts expect a rise in the net income and the revenues and gave a positive outlook ahead of the results. Moreover, the price action indicates the stock pulled back from the 200 day support zone and has surpassed the $50 barrier. Furthermore, the chart shows the uptrend and IRM stock is staying on the bullish trajectory and suggests that stock may extend the up-move soon.
At press time, IRM stock price is trading at $59.66 with an intraday gain of 1% showing buying interest in yesterday’s trading session. Moreover, the trading volume increased by 1.45% to 2.90 Million and the market cap is $17.412 Billion. Furthermore, analysts have maintained a buy rating with a yearly target price of $68.86 suggesting a growth outlook.
IRM Stock Price Prediction 2023
On the daily charts, IRM stock price is in the bullish territory. The bulls are trying to escape the 100 day EMA barrier to rally beyond the supply zone of $65. Furthermore, the stock shot straight up from $50, which is the demand zone.
As per the options chain and the price action, IRM stock may reach the maximum of $70 by 2023.
On the contrary, if the IRM stock price slips below the 200 day EMA, it will retest the demand zone of $50 again.
IRM Stock Price Prediction 2024
On the monthly chart, IRM stock price gained momentum inside the rising channel and broke out of the range above $40. The ongoing uptrend indicates that IRM stock has the potential to reach the maximum of $90 followed by $100 by 2024.
Conversely, if stock continues to consolidate in a narrow range, IRM stock will bring back toward the low of $40.
The RSI curve is close to the midline and shows a bullish divergence highlighting the calmness ahead of the Q3 numbers. The MACD shows a bullish crossover suggesting a positive outlook.
IRM Stock Price Prediction 2025
On the 6 months chart, IRM stock showed a rise and formed a bullish marubozu candlestick indicating the bulls’ dominance. Furthermore, the chart shows the buyers’ accumulation and their willingness to reach the round mark of $100.
The price action suggests that IRM stock is on the bullish track and may reach the $120 mark in the next few years. There were no signs of any bearish setback. If any correction takes place, IRM stock may reach the minimum of $35.
Summary
IRM stock is a best value pick to add in the portfolio to get decent returns by the year 2025. Based on the fundamentals, IRM stock is a well established company trading on low PE multiples and is known for its performance. Moreover, the technicals are suggesting that, the stock has picked up momentum and is ready to reach the blue sky zone.
Technical Levels
Support Levels: $55 and $50
Resistance Levels: $65 and $70
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
