This looks like a setup worth watching. $Invesco QQQ(QQQ)$ is approaching a breakout from its descending wedge, and if momentum continues, $IREN Ltd(IREN)$ could potentially follow a similar path.
The key level to watch is the 50-week moving average. A successful reclaim of that average could signal a strengthening trend.
The AI infrastructure and data center growth story remains a major long-term theme, and $IREN Ltd(IREN)$ is a name I'm keeping an eye on. Confirmation is still needed, but the setup is getting more interesting.
A potential wave 3 target is at 133%.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
