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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 $96.76 on a volume of 168K shares. Swing traders may find an opportunity 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 $99.00 and are now at $95.90, 20% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% 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 11.2%. 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

Ticker(s): IR