Ingersoll-Rand Bearish Moving Average Crossover Alert (IR)
Today, shares of Ingersoll-Rand (NYSE:IR) have crossed bearishly below their 10-day moving average of $67.97 on a volume of 178K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
Over the past year, Ingersoll-Rand has traded in a range of $47.08 to $70.93 and is now at $67.82, 44% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.6%.
SmarTrend recommended that subscribers consider buying shares of Ingersoll-Rand on July 11th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $66.18. Since that recommendation, shares of Ingersoll-Rand have risen 3.2%. 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