ITW - Managing Risk in Illinois Tool Works by Using Price Action
This price action in Illinois Tool Works (NYSE: ITW) can help investors find opportunity, and manage risk. Stock Traders Daily has demonstrated that in this article. Review The plans for ITW below, and you will see how this works. Keep in mind, this data is current, but it is not real time. If you want a real time updates, or data on a different stock, please get one here Unlimited Real Time Reports .
Technical Summary
| Term ? | Near | Mid | Long |
|---|---|---|---|
| Bias | |||
| Strong | |||
| Strong | |||
| Strong | |||
| P1 | |||
| 0 | |||
| 0 | |||
| 206.14 | |||
| P2 | |||
| 220.24 | |||
| 218.39 | |||
| 218.84 | |||
| P3 | |||
| 222.07 | |||
| 222.65 | |||
| 229.77 |
Long Term Trading Plans for ITW
March 18, 2021, 1:00 am ET
The Technical Summary and Trading Plans for ITW help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this ITW Report.
ITW - (Long) Support Plan
The technical summary data tells us to buy ITW near 218.84 with an upside target of 229.77. This data also tells us to set a stop loss @ 218.21 to protect against excessive loss in case the stock begins to move against the trade. 218.84 is the first level of support below 219.9 , and by rule, any test of support is a buy signal. In this case, support 218.84 is being tested, a buy signal would exist.
ITW - (Short) Resistance Plan
The technical summary data is suggesting a short of ITW as it gets near 229.77 with a downside target of 218.84. We should have a stop loss in place at 230.43though. 229.77 is the first level of resistance above 219.9, and by rule, any test of resistance is a short signal. In this case, if resistance 229.77 is being tested, a short signal would exist.