Ingersoll-Rand plc (Ireland) Stock Forecast
Ingersoll-Rand plc (Ireland) stock upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session.
(Updated on May 02, 2024)
The Ingersoll-Rand plc (Ireland) stock price fell by -0.0753% on the last day (Thursday, 2nd May 2024) from $92.92 to $92.85. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 2.45% from a day low at $91.61 to a day high of $93.85. The price has fallen in 6 of the last 10 days but is still up by 4.35% over the past 2 weeks. Volume has increased on the last day by 646 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 4 million shares were bought and sold for approximately $378.91 million.
The stock lies in the middle of a weak 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 7.32% during the next 3 months and, with a 90% probability hold a price between $95.93 and $105.17 at the end of this 3-month period.
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IR Signals & Forecast
The Ingersoll-Rand plc (Ireland) stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $92.93. On a fall, the stock will find some support from the long-term average at approximately $92.51. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, March 27, 2024, and so far it has fallen -2.53%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more 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 $2.24 (2.45%) between high and low. For the last week, the stock has had daily average volatility of 2.05%.
Our recommended stop-loss: $89.92 (-3.15%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 25 days ago.)
Trading Expectations (IR) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Ingersoll-Rand plc (Ireland) to open at $92.77, and during the day (based on 14 day Average True Range), to move between $90.93 and $94.77, which gives a possible trading interval of +/-$1.92 (+/-2.07%) 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 4.14% 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 (0.38%) than the resistance at $93.32 (0.51%), 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 AMC 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 +/- 2.88% in the first trading day after earnings release.
Is Ingersoll-Rand plc (Ireland) stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Ingersoll-Rand plc (Ireland) stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.736 Buy Candidate Upgraded
Predicted Opening Price for Ingersoll-Rand plc (Ireland) of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $92.77 ( 0.0862%) | $92.85 |
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 | 95.01 | 2.33 % | |
| R2 | 94.15 | 1.40 % | ||
| R1 | 93.63 | 0.84 % | ||
| Current price: | 92.85 | |||
| Support | S1 | 91.91 | -1.01 % | |
| S2 | 91.39 | -1.58 % | ||
| S3 | 90.53 | -2.50 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 93.50 | 0.700 % | |
| R2 | 93.39 | 0.582 % | ||
| R1 | 93.32 | 0.506 % | ||
| Current price | 92.85 | |||
| Support | S1 | 92.50 | -0.377% | |
| S2 | 89.47 | -3.64% | ||
| S3 | 83.24 | -10.35% |
IR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 25, 2024 | May 15, 2024 | Jun 06, 2024 | $0.0200 | 0.0215% |
| 2 | Feb 20, 2024 | Mar 06, 2024 | Mar 28, 2024 | $0.0200 | 0.0211% |
| 3 | Nov 01, 2023 | Nov 20, 2023 | Dec 14, 2023 | $0.0200 | 0.0266% |
| 4 | Nov 01, 2023 | Nov 17, 2023 | Dec 14, 2023 | $0.0200 | 0.0266% |
| 5 | Aug 01, 2023 | Aug 22, 2023 | Sep 21, 2023 | $0.0200 | 0.0312% |
FAQ
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