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SmarTrend Watching for Potential Rebound in Shares of Ingersoll-Rand After 1.10% Loss

By James Quinn

Ingersoll-Rand (NYSE:IR) traded in a range yesterday that spanned from a low of $27.45 to a high of $29.23. Yesterday, the shares fell 1.1%, which took the trading range below the 3-day low of $27.58 on volume of 1.8 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend is tracking the current trend status for Ingersoll-Rand and will alert subscribers who have IR in their portfolio or watchlist when shares have changed trend direction.

In the past 52 weeks, Ingersoll-Rand share prices have been bracketed by a low of $17.01 and a high of $146.85 and are now at $28.77, 69% above that low price. The 200-day and 50-day moving averages have moved 1.38% lower and 19.78% lower over the past week, respectively.

Keywords: rebounders Ingersoll-Rand

Ticker(s): IR