ITW - When Illinois Tool Works #ITW Moves Investors should Listen
How do we know what is going on #behindthescenes of a company? According to Stock Traders Daily, a 20-year #financialindustry innovator, the best way to do this to to watch the price action in the stock. The Illinois Tool Works (NYSE: ITW) report below is a real world example. Included are trading plans for ITW, but this report is static. If you want an update, or a different stock, please get one here Unlimited Real Time Reports .
Technical Summary
| Term ? | Near | Mid | Long |
|---|---|---|---|
| Bias | |||
| Strong | |||
| Neutral | |||
| Strong | |||
| P1 | |||
| 0 | |||
| 0 | |||
| 210.89 | |||
| P2 | |||
| 225.98 | |||
| 223.25 | |||
| 221.97 | |||
| P3 | |||
| 228.51 | |||
| 227.26 | |||
| 233.09 |
Long Term Trading Plans for ITW
April 24, 2021, 3:30 pm 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 221.97 with an upside target of 233.09. This data also tells us to set a stop loss @ 221.33 to protect against excessive loss in case the stock begins to move against the trade. 221.97 is the first level of support below 228.52 , and by rule, any test of support is a buy signal. In this case, support 221.97 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 233.09 with a downside target of 221.97. We should have a stop loss in place at 233.76though. 233.09 is the first level of resistance above 228.52, and by rule, any test of resistance is a short signal. In this case, if resistance 233.09 is being tested, a short signal would exist.