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After Yesterday's Rally of 1.89% Shares Could Potentially Pullback

By James Quinn

Ingersoll-Rand (NYSE:IR) traded in a range yesterday that spanned from a low of $87.41 to a high of $89.02. Yesterday, the shares gained 1.9%, which took the trading range above the 3-day high of $87.83 on volume of 934,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Ingersoll-Rand share prices have moved between a 52-week high of $96.23 and a 52-week low of $59.10 and are now trading 50% above that low price at $88.81 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%.

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