Possible Bullish Inside Day Candle Pattern Detected for Ingersoll-Rand (NYSE:IR)
SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Ingersoll-Rand (NYSE:IR) based on the price action in the company's shares. Yesterday's price range of $67.08 and $67.81 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of Ingersoll-Rand may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.
Ingersoll-Rand Company Ltd. is a diversified, global company that provides a diverse range of products and services for a wide range of industries. The Company's operations include consist of air conditioning systems and services, climate control technologies, industrial technologies and security technologies.
Ingersoll-Rand (NYSE:IR) is currently priced 4.0% above its average consensus analyst price target of $64.89. The stock should discover initial support at its 50-day moving average (MA) of $61.28 and subsequent support at its 200-day MA of $56.98.
In the past 52 weeks, Ingersoll-Rand share prices have been bracketed by a low of $47.08 and a high of $70.93 and closed yesterday at $67.56, 44% above that low price. The 200-day and 50-day moving averages have moved 0.09% lower and 1.57% higher over the past week, respectively.
SmarTrend is monitoring the recent change of momentum in Ingersoll-Rand. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Ingersoll-Rand in search of a potential trend change.
Keywords: bullish am inside day candle Ingersoll-Rand