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After Yesterday's Rally of 3.37% Shares Could Potentially Pullback

By James Quinn

Ingersoll-Rand (NYSE:IR) traded in a range yesterday that spanned from a low of $85.66 to a high of $89.06. Yesterday, the shares gained 3.4%, which took the trading range above the 3-day high of $85.95 on volume of 1.4 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Ingersoll-Rand has traded in a range of $47.08 to $89.06 and is now at $88.67, 88% above that low. 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 recommended that subscribers consider buying shares of Ingersoll-Rand on September 22nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $66.13. Since that recommendation, shares of Ingersoll-Rand have risen 29.5%. We continue to monitor IR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders Ingersoll-Rand

Ticker(s): IR