ITW - Using the Action in Illinois Tool Works to our Advantage
Our job as investors is to pay attention to the stocks we own. Part of that involves looking at the fundamentals, but half of the disclosure comes from looking at price action. The Illinois Tool Works (NYSE: ITW) data table below can help you with price action, and we have more details too. Trading plans for ITW are shown here too; these plans are updated in real time for subscribers, where this report is static. If you want an update, or a report on a different stock, please get one here Unlimited Real Time Reports .
Technical Summary
| Term ? | Near | Mid | Long |
|---|---|---|---|
| Bias | |||
| Strong | |||
| Neutral | |||
| Strong | |||
| P1 | |||
| 0 | |||
| 0 | |||
| 201.06 | |||
| P2 | |||
| 202.29 | |||
| 198.69 | |||
| 214.94 | |||
| P3 | |||
| 204.30 | |||
| 203.93 | |||
| 227.05 |
Long Term Trading Plans for ITW
February 27, 2021, 9:00 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 201.06 with an upside target of 214.94. This data also tells us to set a stop loss @ 200.48 to protect against excessive loss in case the stock begins to move against the trade. 201.06 is the first level of support below 202.18 , and by rule, any test of support is a buy signal. In this case, support 201.06 would be being tested, so a buy signal would exist.
ITW - (Short) Resistance Plan
The technical summary data is suggesting a short of ITW as it gets near 214.94 with a downside target of 201.06. We should have a stop loss in place at 215.56though. 214.94 is the first level of resistance above 202.18, and by rule, any test of resistance is a short signal. In this case, if resistance 214.94 is being tested, so a short signal would exist.