Ingersoll Rand has barely moved for about six weeks, and some traders may look for its uptrend to resume.
The first pattern on today’s chart is the February 16 high of $92.32, immediately after the last earnings report. The industrial stock remained below that level for more than month. It pushed higher for about two weeks before coming back to hold the same level. Has old resistance become new support?
Second, you have the 21-day exponential moving average (EMA). Notice how IR bounced at the 21-day EMA in early January and mid-March. It appeared to do the same thing last week.
Third, the 8-day EMA has remained above the 21-day EMA. That may reflect the presence of an uptrend.
Finally, a falling trendline started on March 25 but Friday’s close was above it. That may suggest a period of weakness is ending.
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Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options or futures); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at www.TradeStation.com/DisclosureOptions. Before trading any asset class, customers must read the relevant risk disclosure statements on www.TradeStation.com/Important-Information/. System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors.
Securities and futures trading is offered to self-directed customers by TradeStation Securities, Inc., a broker-dealer registered with the Securities and Exchange Commission and a futures commission merchant licensed with the Commodity Futures Trading Commission). TradeStation Securities is a member of the Financial Industry Regulatory Authority, the National Futures Association, and a number of exchanges.
TradeStation Securities, Inc. and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., both operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Visit www.TradeStation.com...isclosureTSCompanies for further important information explaining what this means.
The first pattern on today’s chart is the February 16 high of $92.32, immediately after the last earnings report. The industrial stock remained below that level for more than month. It pushed higher for about two weeks before coming back to hold the same level. Has old resistance become new support?
Second, you have the 21-day exponential moving average (EMA). Notice how IR bounced at the 21-day EMA in early January and mid-March. It appeared to do the same thing last week.
Third, the 8-day EMA has remained above the 21-day EMA. That may reflect the presence of an uptrend.
Finally, a falling trendline started on March 25 but Friday’s close was above it. That may suggest a period of weakness is ending.
TradeStation has, for decades, advanced the trading industry, providing access to stocks, options and futures. See our Overview for more.
Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options or futures); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at www.TradeStation.com/DisclosureOptions. Before trading any asset class, customers must read the relevant risk disclosure statements on www.TradeStation.com/Important-Information/. System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors.
Securities and futures trading is offered to self-directed customers by TradeStation Securities, Inc., a broker-dealer registered with the Securities and Exchange Commission and a futures commission merchant licensed with the Commodity Futures Trading Commission). TradeStation Securities is a member of the Financial Industry Regulatory Authority, the National Futures Association, and a number of exchanges.
TradeStation Securities, Inc. and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., both operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Visit www.TradeStation.com...isclosureTSCompanies for further important information explaining what this means.