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Shares of Ingersoll-Rand Rise to a New 52-Week High

By James Quinn

Ingersoll-Rand (NYSE:IR) traded today at a new 52-week high of $93.16. So far today approximately 251,000 shares have been exchanged, as compared to an average 30-day volume of 1.8 million shares.

Ingersoll-Rand share prices have moved between a 52-week high of $93.16 and a 52-week low of $47.08 and are now trading 98% above that low price at $93.16 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.6%.

Ingersoll-Rand (NYSE:IR) is currently priced 8.5% above its average consensus analyst price target of $85.20. 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.

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.

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 39.6%. We continue to monitor IR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows Ingersoll-Rand

Ticker(s): IR