After Yesterday's Rally of 1.04% Shares Could Potentially Pullback
Ingersoll-Rand (NYSE:IR) traded in a range yesterday that spanned from a low of $65.29 to a high of $66.50. Yesterday, the shares gained 1.0%, which took the trading range above the 3-day high of $66.42 on volume of 841,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
In the past 52 weeks, shares of Ingersoll-Rand have traded between a low of $47.08 and a high of $70.93 and are now at $66.26, which is 41% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 2.4%.
SmarTrend recommended that subscribers consider buying shares of Ingersoll-Rand on February 23rd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $54.10. Since that recommendation, shares of Ingersoll-Rand have risen 21.1%. We continue to monitor IR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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