ILLINOIS TOOL WORKS (ITW) Stock Technical Analysis
USA • New York Stock Exchange • NYSE:ITW • US4523081093
We assign a technical rating of 8 out of 10 to ITW. 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!
- A new 52 week high is currently being made by ITW, which is a very good signal! However, this is in line with the S&P500, which is also trading near new highs.
- In the last month ITW has a been trading in the 253.72 - 299.90 range, which is quite wide. It is currently trading near the high of this range.
- ITW has an average volume of 1378650 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- Looking at the yearly performance, ITW did better than 77% of all other stocks. However, this overall good ranking is mostly due to the recent strong move.
- ITW is an average performer in the Machinery industry, it outperforms 56% of 131 stocks in the same industry.
Although ITW has an excellent technical rating, it does not offer a high quality setup at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
More info and screens
238.21
When analyzing the support we can see 3 important areas.
- A support zone ranging from 265.32 to 265.94. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 250.14 to 259.26. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 240.62 to 241.84. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for ITW is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for ITW is up. |
| ChartMill Relative Strength | 77.59 | POSITIVE | ITW has a high relative strength, it outperformed 77.59% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of ITW is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of ITW is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of ITW is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 78.71 | OVERBOUGHT | The high RSI value suggests ITW may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 3.28 | POSITIVE | The MACD value suggests ITW has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 94.03 | OVERBOUGHT | The high Stochastics value suggests ITW may be overbought. |
| Average True Range in percent/ATR (20) | 2.15 | MEDIUM VOLATILITY | The ATR as a percentage value for ITW suggests some volalility. |
| Average Directional Index/ADX (14) | 33.07 | POSITIVE | The high ADX value value for ITW suggests a strong trend. |
298.07
+3.82 (+1.3%)
ILLINOIS TOOL WORKS / ITW FAQ
What is the ChartMill technical rating of ILLINOIS TOOL WORKS (ITW) stock?
ChartMill assigns a technical rating of 8 / 10 to ITW.
Can you provide the trend direction for ILLINOIS TOOL WORKS?
The current trend direction for ILLINOIS TOOL WORKS (ITW) is Bullish.
What is the RSI signal for ILLINOIS TOOL WORKS (ITW) stock?
ILLINOIS TOOL WORKS (ITW) has an RSI value of 78.7089. This indicates that the stock is currently overbought.
Can you provide the buy/sell signal for ILLINOIS TOOL WORKS?
The buy/sell signal for ILLINOIS TOOL WORKS (ITW) is buy as both the short term and long term trends are positive.
Can you provide the support and resistance levels for ILLINOIS TOOL WORKS?
ILLINOIS TOOL WORKS (ITW) has a support level at 265.94. Check the full technical report for our detailed analysis of ITW support and resistance levels.