After Yesterday's Rally of 1.77% Shares Could Potentially Pullback
Ingersoll-Rand (NYSE:IR) traded in a range yesterday that spanned from a low of $64.84 to a high of $66.63. Yesterday, the shares gained 1.8%, which took the trading range above the 3-day high of $66.59 on volume of 1.3 million 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 $47.08 and a high of $70.93 and are now at $66.43, 41% 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.
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