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Archive
- 1/15/2021 -
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Illinois Tool Works (ITW) |
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| Summary:
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| | It was the negative week for the Illinois Tool Works (ITW). During the week, the ITW dropped -5.77 points, or -2.76%, and closed at 203.19 on Friday, January 15, 2021. Weekly volume was -25% below average.
 Long-term trend: [See ITW long-term trend chart]
A long-term uptrend had started on March 16, 2009 at 25.60 and reached 224.69 on November 9, 2020. ITW gained -199.09 points, or -777.70%, in 608 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend resistance line (200.50). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a long-term trend.
 Medium-term trend: [See ITW medium-term trend chart]
A medium-term uptrend had started on March 23, 2020 at 115.94 and reached 224.69 on November 9, 2020. ITW gained -108.75 points, or -93.80%, in 33 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (205.82) is broken. A broken support is considered to be a long-term bearish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend.
 Weekly Technical Indicators: [See ITW weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since December 4, 2020. The distance between MACD and the signal line is low and getting smaller. Use the following link to access a MACD help.
 Short-term trend: [See ITW short-term trend chart]
A short-term uptrend had started on December 21, 2020 at 198.27 and reached 211.90 on January 6, 2021. ITW gained -13.63 points, or -6.87%, in 16 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 200.14 and resistance is at 219.60. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a short-term trend.
Daily Technical Indicators: [See ITW daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since December 31, 2020. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands is falling, and it was 5.47% on Friday. It is 56.13% lower than one year average. It indicates the period of low volatility of the stock price. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
During the last week, the price has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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