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Uptrend Exhaustion

Uptrend Exhaustion stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Stock market alert is a warning signal. Uptrend Exhaustion alert indicates that long term uptrend is exhausted and probability of long term trend reversal is high. Uptrend exhaustion stock market alert presents relatively low to medium risk - high reword stock pick for overvalued stocks.

The strategy is based on selling (or taking a short) position on anticipation of uptrend reversal.

Uptrend Exhaustion

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- 3/15/2024 -
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Ingersoll-Rand Plc (IR) Technical Analysis

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Summary:
Weekly :Overbought sectorRelative Strength Index and Lane's Stochastic are overboughtWilliams' Percentage Range is strongly overboughtBroken trend resistance line
Daily :A Parabolic SAR indicator is below and near the priceThe Bollinger Bands are historically close together
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It was a first positive week for the Ingersoll-Rand Plc (IR). During the week, the IR climbed 0.10 points, or 0.11%, and closed at 90.47 on Friday, March 15, 2024. Weekly volume was -20% below average.

IR is a member of Industrials Sector. Industrials is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See IR long-term trend chart]
A long-term uptrend had started on July 14, 2022 at 39.28 and reached 92.44 on March 1, 2024. IR gained -53.16 points, or -135.34%, in 85 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (65.07) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.

Medium-term trend: [See IR medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 59.21 and reached 92.44 on March 1, 2024. IR gained -33.23 points, or -56.12%, in 18 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 89.35 and resistance is at 95.55. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend.

Weekly Technical Indicators: [See IR weekly technical indicators chart]
Weekly Relative Strength Index and Lane's Stochastic are overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index and Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since November 17, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.

Short-term trend: [See IR short-term trend chart]
A short-term downtrend had started on March 14, 2024 at 91.40 and reached 90.10 on March 15, 2024. IR lost 1.30 points, or 1.42%, in 1 days. The price is now at the 28.46% retracement level.

Daily Technical Indicators: [See IR daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is below its signal line since March 4, 2024. This is an indication that the short-term trend is down.

A Parabolic SAR (stop and reversal) indicator (91.29) comes close to the price (90.47). It indicates that the trend is getting weaker. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

The distance between the Bollinger Bands (4.69%) is close to one year low (4.67%). It is 55.37% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 48.53
Williams' Percentage Range (W%R) 40.10
Lane's Stochastic (%D-Slow) 49.64
Greed/Fear Indicator (GFI) 52.70
Moving Average Converg./Diverg. (MACD) 2.13
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 84.65
Overbought
Williams' Percentage Range (W%R) 7.00
Strong Overbought
Lane's Stochastic (%D-Slow) 89.90
Overbought
Greed/Fear Indicator (GFI) 82.99
Overbought
Moving Average Converg./Diverg. (MACD) 5.21
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 95.55
Upper Bollinger Band 91.47
Parabolic System 91.29
Weekly Stochastic Crossing 90.78
Price 90.47
Daily Stochastic Crossing 90.40
20 Day Moving Average 90.30
Quarterly Trendline Support 89.35
Lower Bollinger Band 87.21
50 Day Moving Average 84.42
Yearly Trendline Resistance 78.03
Sector and Industry
Description Name Rank
Sector Industrials 12
Industry Industrial Machinery 105
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 91.40
High Date 03/14/2024
Low 90.10
Low Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 91.40
High Date 03/14/2024
Low 90.10
Low Date 03/15/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 92.44
High Date 03/01/2024
Low 88.71
Low Date 03/12/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 95.55
Support 89.35
Low 59.21
Low Date 10/27/2023
High 92.44
High Date 03/01/2024
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 78.03
Support 65.07
Low 39.28
Low Date 07/14/2022
High 92.44
High Date 03/01/2024
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.