IREN has superior fundamentals to peers and is positioned for a technical breakout above $50 towards $60-$65 and potentially $76.

Your next choice is "Iron," which used to mine Bitcoin and has now become the "Neo" cloud . You are saying that you see a significant technical setup above the $50 level. So why is this level so important here and what might drive the stock up again towards 70 to 76?

I'm looking at the 52-week range up to the upper end of their range. Yes, this is another really interesting sector because we're talking about their relationships that are clearly linked to data center stocks , which is the same thing, isn't it?

If artificial intelligence is to grow, there is a need for energy for data centers, and a need for demand for data centers. As you know, this is a recurring cycle. It is really similar to Marvell (MRVL) and Micron.

So, you can see that I like these structured deals where there is always a defined level, like a dividing line. The most notable thing is "Wall Street". Once the price is freed up, and if there is no real technical resistance or price history at that level, then we are talking about price discovery.

For me, this is the main focal point . Now, IREN reached its 200-day moving average today and fell. Unfortunately, things were looking very good until CRWV announced this morning that it was going public with 35 million shares, which effectively dragged the entire sector down.

So, this is the point where we need to move beyond this kind of feeling. There will be some negative feelings surrounding this company. They may also need to raise capital in order to grow.

Well, that's where their strength lies, isn't it? Because they were originally known as a Bitcoin mining company, then moved into developing artificial intelligence. What they actually do with the Bitcoin they mine is that they are not a holding company like other companies, say like Mara and Riot.

They have no real interest in being a holding company. Any Bitcoin or cryptocurrency they mine is sold immediately, and those proceeds are reinvested in the business. Whether it's to pay off debts, pay bills, or use it to grow the company, whatever the purpose, it's very different from what CRWV is forced to do , as they are suffering from a massive cash burn, and the only way to get capital to keep up with this burn is to make these offerings, whether they are stock offerings or bond offerings.

Therefore, IREN is in a completely different place fundamentally. They have also signed some very large contracts, particularly with regard to ultra-large-scale cloud computing companies.

So, for me, if we see growth in near-cloud companies, this company, along with HUT or HUT8, are the two names I really like for their ability to break through . And again, when we talk about retesting the $50 level, it is also a key psychological level .

I just feel that if the AI landscape is strengthened , we are certainly looking at the big names, but we should also look at these growth names. Certainly, with a high interest rate environment , growth stocks may suffer a little, but momentum remains momentum, and retail investor demand remains demand.

When these stocks exhibit these breakout behaviors, and if the market truly supports that thesis, it is very difficult not to feel tempted to try to exploit that breakout. Now, I don't think IREN stock above 50 will see a crazy rise, but as you know , a 20% rise is certainly possible, heading towards $60 to $65.

There is a relatively clear price gap that can be filled at around the $65 level. This is where I expect the stock to move in the near term, but I don't think it will stop there .

I think he will actually be looking to retest his 52-week high at around $76. Here I see accelerated or exponential growth coming into play once they surpass this level. As far as I'm concerned, if they retest that price, they will break through and take off upwards.