Time to Buy IR? Let’s Check the Charts

Yesterday, we looked at a Daily Price Chart of  //links.tradewins.com/a/126/click/10219670/743397271/_ffc77b9f1d8ae15b387b37da33a6789c61e12b9d/3618f718c3abc492c8ed3eafb4d4874622975800 March 7th, 2024 Time to Buy IR? Let’s Check the Charts Dear Reader, Yesterday, we looked at a Daily Price Chart of [KLA Corp.](, noting that KLAC’s OBV line is sloping up, validating the recent bullish trend. For today’s Trade of the Day we will be looking at a Keltner Channel chart for Ingersoll Rand Inc. (IR). Ingersoll Rand Inc. is a global industrial company, with expertise in industrial and mission-critical flow creation technologies. It has 2 segments. Industrial Technologies & Services segment engages in manufacturing products, including air compressors, couplers, vacuum pumps, power tools, blowers and others. Take a look at the chart below. Buy IR Stock The IR daily price chart shows that the stock is in a strong price uptrend and has become overbought several times. You can see this as IR has traded above the Upper Keltner Channel on multiple occasions recently. But, in every scenario when IR became overbought, the stock soon experienced a pullback. Finding opportunities when a stock experiences a pullback is why the Hughes Optioneering Team uses the Keltner Channels. They help us find a lower-risk entry point. The Keltner Channel “Buy Zone” occurs when a stock is trading below the upper Keltner Channel. Once the daily price is trading below the upper channel, it provides a lower-risk buying opportunity as the stock is likely to rally. 87.0% Profit Potential for IR Option Now, since IR stock is currently trading in the Keltner Channel ‘Buy Zone’ and it’s bullish run is likely to continue, let’s use the Hughes Optioneering calculator to look at the potential returns for an IR call option purchase. When you purchase a call option, there is no limit on the profit potential of the call if the underlying stock continues to move up in price. For this specific call option, the calculator analysis below reveals if IR stock increases 5.0% at option expiration to 94.75 (circled), the call option would make 43.2% before commission. If IR stock increases 10.0% at option expiration to 99.26 (circled), the call option would make 87.0% before commission and outperform the stock return nearly 9 to 1*. The leverage provided by call options allows you to maximize potential returns on bullish stocks. The Hughes Optioneering Team is here to help you identify profit opportunities just like this one. The prices and returns represented below were calculated based on the current stock and option pricing for IR on 3/6/2024 before commissions. [NEW] Chuck’s Lightning Quick Trade Alerts! Chuck Hughes has just launched his exciting new trading service program, Lightning Trade Alerts. This new service focuses on low-cost & short-term options trade. Members will receive hand-picked options trades from the 10-Time Trading Champion, Chuck Hughes. Call our team at 1-866-661-5664 or 1-310-647-5664 to join or click below to schedule a call!  Chuck Hughes Editor, Trade of the Day Unlock Chuck’s trading wisdom through our complimentary text alerts! Enroll today to receive expert tips, live event notifications, and exclusive discounts. [Register for free!]( *Trading incurs risk and some people lose money trading.  --------------------------------------------------------------- See Related Articles [KLAC’s Technicals Confirm Strong ‘Buy’ Alert]( [Momentum Boosts Wells Fargo HigherÂ]( [BAH Surges: Consulting Stock Soars!]( --------------------------------------------------------------- [TradeWins Logo](  © 2024 Tradewins Publishing. All rights reserved. | [Privacy Policy]( | [Terms and Conditions]( | [Contact Us]( If you didn't create an account using this email address, please ignore this email or unsubscribe using the link below. 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