IREN Ltd

IREN remains in a Stage 4 distribution phase with structural weakness intact, trading below the 200-day SMA and key EMAs. Recent bounce has failed to reclaim the 20-day and 50-day moving averages, reinforcing bearish medium-term bias. Short-term momentum is indeterminate, so deferred execution into resistance zones is preferred rather than immediate selling.

• ↑Secured $9.7B Microsoft AI deal expected to generate ~$1.94B ARR
• ↑AI cloud services revenue rose from $17.3M in Q2 to $33.6M in Q3 FY2026
• ↓Q3 FY2026 net loss widened to $247.8M amid Bitcoin-related impairments