Support in Place for Industrial Stock
Ingersoll Rand(IR) Schaeffers Investment Research·2024-08-09 22:47
Ingersoll Rand Inc (NYSE:IR) beat profit and revenue expectations for the second quarter on Friday, and while the stock had a negative post-earnings reaction amid the broad-market selloff, it’s still sitting at prior May and June lows. The shares also remain above the 10-month moving average, which has been supportive on multiple occasions since 2021.There’s potential support in place at the 85-strike using options that expire through October. It’s also worth noting that short interest is sitting at a two-y ...