|
|
Advanced TA SearchArchive
- 5/10/2024 -
Sign In to see current Signals. |
Illinois Tool Works (ITW) Technical Analysis
|
 |
| Summary:
| | Weekly :   | | Daily :
Move cursor over the icon to see details.
| | It was a first positive week after 6 consecutive negative weeks for the Illinois Tool Works (ITW). During the week, the ITW gained 6.45 points, or 2.64%, and closed at 250.33 on Friday, May 10, 2024. It was the best weekly gain since January 26, 2024. Weekly volume was -38% below average.
ITW is a member of Industrials Sector. Industrials is the second most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See ITW long-term trend chart]
A long-term uptrend had started on March 16, 2009 at 25.60 and reached 271.10 on March 22, 2024. ITW gained -245.50 points, or -958.98%, in 783 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend resistance line (251.70). 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 downtrend had started on March 22, 2024 at 271.10 and reached 239.46 on May 2, 2024. ITW lost 31.64 points, or 11.67%, in 5 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (233.20) is broken. A broken support is considered to be a long-term bullish 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 resistance line in a medium-term trend.
 Weekly Technical Indicators: [See ITW weekly technical indicators chart]
Weekly Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.
The weekly MACD line is below its signal line since April 5, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current medium-term downtrend is strong. 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 May 2, 2024 at 239.46 and reached 251.04 on May 10, 2024. ITW gained -11.58 points, or -4.84%, in 8 days. The price is now at the 6.13% retracement level.
 Daily Technical Indicators: [See ITW daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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 moved above the moving average in the center of the Bollinger Bands. 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.
| |
|
|