Illinois Tool Works ITW Technical Pivots with Risk Controls

The technical pivots for Illinois Tool Works (NYSE: ITW) help you determine how to trade, when to buy, when to sell, and how to control risk.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for ITW change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

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Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if ITW is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for ITW too.  All of these are offered below the Summary Table.

Longer Term Trading Plans for ITW

• Buy ITW slightly over 174.36 target 193.41 stop loss @ 173.86 Details

The technical summary data tells us to buy ITW near 174.36 with an upside target of 193.41. This data also tells us to set a stop loss @ 173.86 to protect against excessive loss in case the stock begins to move against the trade. 174.36 is the first level of support below 192.495 , and by rule, any test of support is a buy signal. In this case, support 174.36 would be being tested, so a buy signal would exist.

• Short ITW under 193.41, target 174.36, stop loss @ 193.97 Details

The technical summary data is suggesting a short of ITW as it gets near 193.41 with a downside target of 174.36. We should have a stop loss in place at 193.97though. 193.41 is the first level of resistance above 192.495, and by rule, any test of resistance is a short signal. In this case, if resistance 193.41 is being tested, so a short signal would exist.

Swing Trading Plans for ITW

• Buy ITW slightly over 193.41, target 199.83, Stop Loss @ 192.85 Details

If 193.41 begins to break higher, the technical summary data tells us to buy ITW just slightly over 193.41, with an upside target of 199.83. The data also tells us to set a stop loss @ 192.85 in case the stock turns against the trade. 193.41 is the first level of resistance above 192.495, and by rule, any break above resistance is a buy signal. In this case, 193.41, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short ITW near 193.41, target 174.36, Stop Loss @ 193.97. Details

The technical summary data is suggesting a short of ITW if it tests 193.41 with a downside target of 174.36. We should have a stop loss in place at 193.97 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 193.41, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for ITW

• Buy ITW slightly over 193.41, target 195.76, Stop Loss @ 192.96 Details

If 193.41 begins to break higher, the technical summary data tells us to buy ITW just slightly over 193.41, with an upside target of 195.76. The data also tells us to set a stop loss @ 192.96 in case the stock turns against the trade. 193.41 is the first level of resistance above 192.495, and by rule, any break above resistance is a buy signal. In this case, 193.41, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short ITW near 193.41, target 174.36, Stop Loss @ 193.86. Details

The technical summary data is suggesting a short of ITW if it tests 193.41 with a downside target of 174.36. We should have a stop loss in place at 193.86 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 193.41, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

ITW Ratings for September 16:

Term →	Near	Mid	Long
Rating	Weak	Neutral	Weak
P1	0	0	174.36
P2	195.76	199.83	193.41
P3	200.52	207.87	211.85

Support and Resistance Plot Chart for ITW

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