ITW Technical Analysis - ILLINOIS TOOL WORKS

Technical Rating and Analysis

Taking everything into account, ITW scores 1 out of 10 in our technical rating. ITW scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.

Both the long and short term trends are negative. It is better to avoid buying stocks with negative trends.

70% of all other stocks performed better in the past year than ITW.

ITW is part of the Machinery industry. There are 130 other stocks in this industry, ITW did better than 47% of them.

ITW is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so ITW is lagging the market.

In the last month ITW has a been trading in the 242.53 - 263.30 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

ILLINOIS TOOL WORKS / ITW Weekly stock chart

ILLINOIS TOOL WORKS / ITW Daily stock chart

Setup Rating and Analysis

The technical rating of ITW is bad and it also does not present a 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.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

236.85

281.30

2 important support areas can be observed.

A support zone ranging from 254.24 to 255.79. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
A support zone ranging from 239.24 to 249.05. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.

When analyzing the resistance we notice 2 important areas.

A resistance zone ranging from 259.89 to 262.12. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
A resistance zone ranging from 274.48 to 278.51. This zone is formed by a combination of multiple trend lines in multiple time frames.

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What is Support and Resistance

Support and Resistance indicators

Support and Resistance Screener and Trading Strategies

Technical Indicator Signal Analysis

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	DOWN	NEGATIVE	The long term trend for ITW is down.
ChartMill Short Term Trend Indicator	DOWN	NEGATIVE	The short term trend for ITW is down.
ChartMill Relative Strength	30.2	NEUTRAL	ITW is not amongst the best or worst performers on the market.
Simple Moving Average/SMA (20)	DOWN	MIXED	The current price of ITW is above a declining SMA(20).
Simple Moving Average/SMA (50)	DOWN	NEGATIVE	The current price of ITW is below a declining SMA(50).
Simple Moving Average/SMA (200)	DOWN	MIXED	The current price of ITW is above a declining SMA(200).
Relative Strength Index/RSI (14)	45.2	NEUTRAL	The RSI value for ITW is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-0.33	NEGATIVE	The MACD value suggests ITW has a negative trend, although the MACD value is rising.
Stochastics (14,3)	34.44	NEUTRAL	The Stochastics value for ITW is a neutral value.
Average True Range in percent/ATR (20)	1.52	LOW VOLATILITY	The low ATR as a percentage value for ITW suggests low volalility.
Average Directional Index/ADX (14)	21.33	NEUTRAL	The ADX value for ITW suggests a possible start of a new trend.