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Ingersoll-Rand Bearish Moving Average Crossover Alert (IR)

By Nick Russo

Ingersoll-Rand (NYSE:IR) crossed under its 10-day moving average of $91.45 on a volume of 122K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Ingersoll-Rand share prices have been bracketed by a low of $79.63 and a high of $97.67 and are now at $90.42, 14% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Ingersoll-Rand on May 7th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $87.27. Since that recommendation, shares of Ingersoll-Rand have risen 5.4%. We continue to monitor IR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Ingersoll-Rand

Ticker(s): IR