Ingersoll-Rand plc (Ireland) Stock Forecast
Ingersoll-Rand plc (Ireland) stock upgraded to Buy Candidate.
(Updated on Apr 26, 2024)
The Ingersoll-Rand plc (Ireland) stock price gained 1.60% on the last trading day (Friday, 26th Apr 2024), rising from $92.03 to $93.50. During the last trading day the stock fluctuated 1.79% from a day low at $92.31 to a day high of $93.96. The price has fallen in 6 of the last 10 days but is still up by 1.72% over the past 2 weeks. Volume fell on the last day by -613 thousand shares and in total, 2 million shares were bought and sold for approximately $179.15 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 10.87% during the next 3 months and, with a 90% probability hold a price between $98.87 and $109.24 at the end of this 3-month period.
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IR Signals & Forecast
A sell signal was issued from a pivot top point on Wednesday, March 27, 2024, and so far it has fallen -1.85%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Some positive signals were issued as well, and these may have some influence on the near short-term development. The Ingersoll-Rand plc (Ireland) stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $90.66 and $92.19. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Ingersoll-Rand plc (Ireland) stock
Ingersoll-Rand plc (Ireland) finds support from accumulated volume at $92.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.65 (1.79%) between high and low. For the last week, the stock has had daily average volatility of 1.94%.
Our recommended stop-loss: $90.16 (-3.58%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 21 days ago.)
Trading Expectations (IR) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Ingersoll-Rand plc (Ireland) to open at $93.26, and during the day (based on 14 day Average True Range), to move between $91.60 and $95.40, which gives a possible trading interval of +/-$1.90 (+/-2.03%) up or down from last closing price. If Ingersoll-Rand plc (Ireland) takes out the full calculated possible swing range there will be an estimated 4.07% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $92.50 (1.07%) than the resistance at $94.95 (1.55%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Ingersoll-Rand plc (Ireland) will release earnings BMO on Thursday, May 02, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.690. We will update the financials statements for Ingersoll-Rand plc (Ireland), that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.66% in the first trading day after earnings release.
Is Ingersoll-Rand plc (Ireland) stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.649 Buy Candidate Upgraded
Predicted Opening Price for Ingersoll-Rand plc (Ireland) of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $93.26 ( 0.260%) | $93.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 94.91 | 1.50 % | |
| R2 | 94.28 | 0.83 % | ||
| R1 | 93.89 | 0.414 % | ||
| Current price: | 93.50 | |||
| Support | S1 | 92.63 | -0.93 % | |
| S2 | 92.24 | -1.35 % | ||
| S3 | 91.61 | -2.02 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 95.26 | 1.88 % | |
| R2 | 95.10 | 1.71 % | ||
| R1 | 94.95 | 1.55 % | ||
| Current price | 93.50 | |||
| Support | S1 | 92.50 | -1.07% | |
| S2 | 89.47 | -4.31% | ||
| S3 | 83.24 | -10.97% |
IR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 20, 2024 | Mar 06, 2024 | Mar 28, 2024 | $0.0200 | 0.0211% |
| 2 | Nov 01, 2023 | Nov 20, 2023 | Dec 14, 2023 | $0.0200 | 0.0266% |
| 3 | Nov 01, 2023 | Nov 17, 2023 | Dec 14, 2023 | $0.0200 | 0.0266% |
| 4 | Aug 01, 2023 | Aug 22, 2023 | Sep 21, 2023 | $0.0200 | 0.0312% |
| 5 | May 02, 2023 | May 23, 2023 | Jun 22, 2023 | $0.0200 | 0.0315% |
FAQ
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