According to Stock Traders Daily, a 2-year industry veteran, investors can use the price action in Illinois Tool Works (NYSE: ITW) to foretell upcoming changes. A current example is provided below. There are trading plans for ITW, but the data on this page does not update in real time. If you want a real time update, or a different stock, please get one here Unlimited Real Time Reports .
Technical Summary
Term ? | Near | Mid | Long |
---|---|---|---|
Bias | Weak | Weak | Strong |
P1 | 0 | 0 | 195.56 |
P2 | 195.23 | 198.46 | 211.72 |
P3 | 198.29 | 204.76 | 225.39 |
Long Term Trading Plans for ITW
February 18, 2021, 1:45 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 195.56 with an upside target of 211.72. This data also tells us to set a stop loss @ 195 to protect against excessive loss in case the stock begins to move against the trade. 195.56 is the first level of support below 198.24 , and by rule, any test of support is a buy signal. In this case, support 195.56 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 211.72 with a downside target of 195.56. We should have a stop loss in place at 212.33though. 211.72 is the first level of resistance above 198.24, and by rule, any test of resistance is a short signal. In this case, if resistance 211.72 is being tested, so a short signal would exist.