Symbol: IRM
July 21, 2022 – Weekly Best Ideas (BAH, WSG.NL, SRP.GB)
Join our analysts for our Weekly Best Ideas webinar, where they discuss the current outlook for global markets from an O’Neil perspective and delve into the best actionable stock ideas of the week.
O’Neil Capital Equipment Sector Weekly
Iron Mountain (IRM) – $13B market cap; $74M ADV: We removed Iron Mountain from the U.S. Focus List as the stock has come under selling pressure in the past few weeks. It has
declined 23% from its 52-week high and is trading below its key moving averages. Iron Mountain is the global market leader in the physical ecosystem of information storage/retrieval and is
well-positioned to benefit from organic storage rental revenue, reflecting continued strength in pricing combined with positive volume trends. We would like to revisit the stock on technical
improvement. Fundamental & Technical note
Won Global View
The U.S. market remains in an Uptrend Under Pressure. The S&P 500 and Nasdaq rallied Friday to partially retrace early week losses and regain their respective 10- and 21-DMA. Despite the move, both indices remain below primary resistance at their rolling 50-DMA (S&P 500: 3,937; Nasdaq: 11,535). The distribution day count increased to four and two, respectively.
Market View
The U.S. market remains in an Uptrend Under Pressure. The S&P 500 and Nasdaq rallied Friday to partially retrace
early week losses and regain their respective 10- and 21-DMA. Despite the move, both indices remain below primary
resistance at the rolling 50-DMA (S&P 500: 3,937; Nasdaq: 11,535). The distribution day count increased to four and two,
respectively.
