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Look for Shares of Ingersoll-Rand to Potentially Pullback after Yesterday's 1.08% Rise

By Nick Russo

Ingersoll-Rand (NYSE:IR) traded in a range yesterday that spanned from a low of $123.60 to a high of $124.83. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $124.31 on volume of 316,000 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 $85.15 and a high of $128.31 and are now at $124.55, 46% above that low price. The 200-day and 50-day moving averages have moved 0.31% higher and 0.31% lower 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.

Keywords: rebounders Ingersoll-Rand

Ticker(s): IR