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After Yesterday's Rally of 1.77% Shares Could Potentially Pullback

By James Quinn

Ingersoll-Rand (NYSE:IR) traded in a range yesterday that spanned from a low of $95.84 to a high of $96.50. Yesterday, the shares gained 1.8%, which took the trading range above the 3-day high of $95.67 on volume of 539,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend is tracking the current trend status for Ingersoll-Rand and will alert subscribers who have IR in their portfolio or watchlist when shares have changed trend direction.

In the past 52 weeks, Ingersoll-Rand share prices have been bracketed by a low of $79.63 and a high of $107.08 and are now at $96.11, 21% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has declined 0.5%.

Keywords: rebounders Ingersoll-Rand

Ticker(s): IR