Industrials have outperformed this year as investors look for the economy to rebound. Ingersoll Rand is a member of that group with some interesting chart patterns.
First, notice how IR surged to a new all-time high last week. It’s now pulled back to hold its earlier peak around $47.50 and form tight pennant. Traders may watch the 8-day exponential moving average...
The PEAD projected a bullish outlook for $IR after a positive under reaction following its earnings release placing the stock in drift A
If you would like to see the Drift for another stock please message us. Also click on the Like Button if this was useful and follow us or join us.
Showing a beautiful Cup n' Handle classic formation with 2 great buy points. About to re-test the breakout.
There is also the massive underlying bull case that the new green deal/looking infrastructure money make Ingersol primed for a massive few years.
Ask yourself, if you were a buyer during the consolidation, and you haven't sold yet, is this your last opportunity to get out at break even?
Short on price action break of the upsloping trend line
Stop close above red AVWAP
First target 41, then 200 daily moving average
$IR posted weak earnings but the PEAD projected a bullish outlook for the stock, with price currently trading around the median line.
If you would like to see the Drift for another stock please message us. Also click on the Like Button if this was useful and follow us or join us.
Hello traders, INGERSOLL RAND is in a bullish move, desperate attempt by sellers with low purchase volume. Strong potential for buyers to go up on the last previous higher, even above if the price of the decision zone is interesting.
Please LIKE & FOLLOW, thank you!
Quite similiar to my morning star idea on EV, this morning star formed after a gap down yesterday. First TP around last new high, if markets keeps beeing so freaking bullish this could end in a new high for this stock.
