When I look at a chart of Iron Mountain (IRM) I see a seven-month base pattern shaping up.
In this daily chart of IRM, above, I can see that IRM is back to where it was (around $30) in August. Over the intervening seven months Iron Mountain made a bottoming pattern. Prices are now above the rising 50-day moving average, which is a positive.
Longer-term prices are testing the 200-day average line, though the slope of the line has not yet turned up. The On-Balance Volume (OBV) line is flat to turning up, telling us that buyers have begun to get more aggressive with more volume traded on days when IRM closes higher. We can also point to a bullish divergence between the lower lows in price in November and January and the momentum indicator making equal lows.
In this longer-term chart, above, we can see that IRM has rallied above the 40-week moving average. The OBV line has turned up on this timeframe and the MACD oscillator has crossed below the zero line for a cover-shorts signal.
IRM is not extended on the upside, so traders could consider buying IRM around $30 with a sell stop below $28. Additional longs can be bought on a close above $32. Always trade with the trend.