IR closes below its opening price unable to hold early session gains
Ingersoll-Rand plc (IR) Technical Analysis Report for Sep 14, 2018 | by Techniquant Editorial Team
Moving higher for the 3rd day in a row, IR finished the week 3.1% higher at 103.40 after edging higher $0.14 (0.14%) today. Today's closing price of 103.40 marks the highest close since Inception. Trading $0.75 higher after the open, the stock was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Daily Candlestick Chart (IR as at Sep 14, 2018):
Friday's trading range was $0.97 (0.94%), that's below last trading month's daily average range of $1.32. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being below average.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.