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SmarTrend Watching for Potential Pullback in Shares of Ingersoll-Rand After 1.08% Gain

By David Diaz

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.

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.

Ingersoll-Rand share prices have moved between a 52-week high of $128.31 and a 52-week low of $85.15 and are now trading 46% above that low price at $124.55 per share. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has declined 0.3%.

Keywords: rebounders Ingersoll-Rand

Ticker(s): IR