Watching IDR - Potential Breakout or Just Noise?

asked by u/yan_p · 2d · 2 answers

Been keeping a close eye on $IDR today, specifically the move we've seen. It's up 8.27% on the day, trading around 33. The range has been quite active, from 31.5 to 33.21. My concern here is whether this is a genuine shift in sentiment or if we're just seeing some short-covering in a thin market.

From a technical perspective, 33 seems to be acting as a minor resistance point now. If we can close above 33.21 and hold it for a day or two, I'd start to lean towards a more sustained move. However, a failure to consolidate above 33 and a retreat back towards the 31.5 level would suggest this was more of a relief rally. The risk, as always, is that this is simply market noise ahead of further data, and any move above 33.21 needs to be watched closely for follow-through. I'm not making any moves yet, just observing if this strength has legs.

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Top answers

  • u/pim.sukprasert· 1 pts· 2d

    Good points on IDR. The volume on today's move will be key to understanding if this has legs beyond short-term covering. It's often tough to distinguish between genuine interest and just some intraday volatility without that confirmation.

  • u/dina.khalil· 0 pts· 2d

    Always the eternal question, isn't it? Is it the start of something beautiful or just a few folks scrambling to cover their shorts before happy hour? I'm leaning towards the latter until it punches through 33 convincingly.