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After Yesterday's Rally of 1.18% Shares Could Potentially Pullback

By Shiri Gupta

Ingersoll-Rand (NYSE:IR) traded in a range yesterday that spanned from a low of $97.50 to a high of $99.02. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $98.24 on volume of 596,000 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, Ingersoll-Rand share prices have been bracketed by a low of $79.63 and a high of $105.76 and are now at $98.61, 24% 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 remained constant.

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: rebounders Ingersoll-Rand

Ticker(s): IR