Ingersoll Rand - Breakout

Ingersoll Rand has been a slow mover in this segment of infrastructure companies. While the segment as a whole has underperformed, this company was even worse. The stock came out with its quarterly results which clearly stunned the market players. The stock immediately reacted to its news positively with a 9% jump. This stock has only now started its movement.

• The MACD has started to move positive with a break of the bullish line over the correction line
• RSI has reacted sharply and will need to check this closely as to not to over-react to the news
• Given the sudden climb in the price, the Accumulation Distribution chart does not seem to factor the rise as the closing price was closer to the opening price. However, the stock has created a gap which will create a problem as this might need to get closed in the near future

Overall, the stock is currently positive and a good 'buy' strategy.