Relative Strength MedTech Small Cap Ready to Run Back to Highs
iRhythm Technologies (IRTC) shares of the MedTech name are curling higher and looking poised to break the recent range above 105. IRTC stayed above its 200 day EMA the whole month during the market turmoil and buyers defended into the level near 95 while now looks ready to run with a fresh MACD bull cross and can target a move to 114 yearly value area high. IRTC also still has large short puts in OI with 1000 December $100 puts sold to open at $20.55 last summer. Insider buying was seen back in November as well with a director that bought $500K in stock near $75/share.