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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 $88.83 on a volume of 102K 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.

Ingersoll-Rand share prices have moved between a 52-week high of $90.18 and a 52-week low of $47.08 and are now trading 88% above that low price at $88.52 per share. 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 September 22nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $66.13. Since that recommendation, shares of Ingersoll-Rand have risen 34.9%. 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