The “Chart of the Day” is Ingersoll-Rand (IR), which showed up on Thursday’s Barchart “NYSE 12-month High” list. Ingersoll-Rand on Thursday posted a new 3-1/4 year high but then faded to close only 1.25% higher. The stock may need to correct a bit lower to fill Thursday’s gap, but a rally to a new high could be considered a bullish trigger. TrendSpotter has been Long Ingersoll-Rand since March 24 at $48.00. Yesterday’s rally was sparked by the company’s announcement of an increase in the quarterly dividend by 71% to 12 cents per share and by the board’s authorization of a $2 billion share repurchase program. Ingersoll-Rand, with a market cap of $15.8 billion, is one of the leading providers of security and safety, climate control, industrial productivity and infrastructure products.
How we found the Chart of the Day:
We found the “Chart of the Day” by scanning the Barchart “New Highs/Lows” page. Then we clicked on the entry for NYSE 12-month highs. A new 12-month high is a popular sign of upside momentum. Then we applied a “Custom View” heading with the Barchart Opinion ranking as one of the columns. we then sorted the list by the Barchart Opinion ranking in order to find the stocks with the highest Opinion.
Barchart’s Opinion trading systems are mostly a Buy and Barchart’s daily TrendSpotter trading system is a “Buy.” Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.
- TrendSpotter: Buy
- Short-Term Indicators: 60% Buy
- Medium-Term Indicators: 100% Buy
- Long-Term Indicators: 100% Buy
- Overall Average 88% Buy
Chart of the Day provided by www.Barchart.com.
Barchart.com provides Financial Quotes, Charts and Technical Analysis for Stock and Commodity Traders.
