ILLINOIS TOOL WORKS (ITW)       226  -2.97 (-1.3%)

226  -2.97 (-1.3%)

US4523081093 - Common Stock

Technical Rating

8

Overall ITW gets a technical rating of 8 out of 10. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, ITW is only an average performer.



The long and short term trends are both positive. This is looking good!
ITW is one of the better performing stocks in the Machinery industry, it outperforms 71% of 146 stocks in the same industry.
ITW is currently trading in the upper part of its 52 week range. The market is still in the middle of its 52 week range, so ITW slightly outperforms the market at the moment.
In the last month ITW has a been trading in the 206.04 - 230.76 range, which is quite wide. It is currently trading near the high of this range.
ITW has an average volume of 1159440 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
When comparing the yearly performance of all stocks, we notice that ITW is one of the better performing stocks in the market, outperforming 86% of all stocks. However, this overall performance is mostly based on the strong move around 4 months ago.

Statistics

1 Month 3 Months 6 Months 12 Months 10.69% 14.79% 10.75% -2.46% SMA(20) SMA(50) SMA(100) SMA(200) RS 52 Wk Range ST Trend LT Trend 86.53 173.52 - 249.812
ITW Weekly chart
ITW Daily chart

Support/Resistance Analysis


176.47

231.25
We found 1 important support area.
  • A support zone ranging from 178.25 to 178.25. This zone is formed by a combination of multiple trend lines in multiple time frames.
We found 1 important resistance area.
  • A resistance zone ranging from 226.00 to 228.96. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.

Setup Analysis

Setup Rating

7

ITW has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is very little resistance above the current price. There is a support zone below the current price at 228.96, a Stop Loss order could be placed below this zone.


Possible Trading Setup

The following trade can be suggested based on the decent technical rating and setup score.


ENTRYEXITDISTANCECAPITAL
230.77225.994.78 (2.07%)25.00%
An entry @230.77. This is a Buy Stop order right above the 10 day high.An exit @225.99. This is a Stop Loss order right below the support zone.The trade has a worst case loss of 4.78 points, which is 2.07%.When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.52%.

  • The distance between exit and entry is rather small compared to the average daily movement of ITW. Please evaluate whether better entry and exit points can be found.
  • The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
  • This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
ITW Daily chart

ILLINOIS TOOL WORKS226

NYSE:ITW (11/28/2022, 11:30:57 AM)-2.97 (-1.3%)

Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS Sector Industrials
GICS Industry Machinery
Performance
Today -1.3% 1 Week 1.11%
2 Weeks 2.1% 1 Month 10.69%
3 Month 14.79% 6 Month 10.75%
Volatility
ATR(14) 4.36 ATR(20)% 2.1%
ATR Inc -57.15% Range Today 3.04
Trend & SMA
ST Trend LT Trend
SMA(5) SMA(10)
SMA(20) SMA(50)
SMA(100) SMA(200)
Relative Strength & Ranges
CRS 86.53 Mansfield 1.25
10 Day High 230.76 10 Day Low 221.23
20 Day High 230.76 20 Day Low 206.04
52 Week High 249.81 52 Week Low 173.52
CS1 End 228.96 CR1 Start N/A
Volume & EV
DER(3) -0.37% DER(5) 0.11%
Volume 331.00K Volume Incr -37.01%
Vol(5) 799.10K Vol(50) 1.16M

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