When (ITW) Moves Investors should Listen

November 09, 2024, 22:10 pm ET, BY Chris- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for ITW

• Buy ITW near 265.21 target n/a stop loss @ 264.44. Details

The technical summary data tells us to buy ITW near 265.21, but there is no current upside target from the summary table. In this case we should wait until either an update to the summary table has been made (which usually happens at the beginning of every trading day), or until the position has been stopped. The data does tell us to set a stop loss 264.44 to protect against excessive loss in case the stock begins to move against the trade. 265.21 is the first level of support below 271.95, and by rule, any test of support is a buy signal. In this case, if support 265.21 is being tested, a buy signal would exist.

• NONE . Details

NONE .
There are no current resistance levels from the summary table, and therefore there are no Short resistance Plans which tell us to short upon tests of resistance. Resistance levels have broken higher and unless the stock reverses lower and below support levels again short positions look risky.

Swing Trading Plans for ITW

• Buy ITW slightly over 275.7, target n/a, Stop Loss @ 274.9 Details

If 275.7 begins to break higher, the technical summary data tells us to buy ITW just slightly over 275.7, with an upside target of n/a. The data also tells us to set a stop loss @ 274.9 in case the stock turns against the trade. 275.7 is the first level of resistance above 271.95, and by rule, any break above resistance is a buy signal. In this case, 275.7, 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 slightly near 275.7, target 269.01, Stop Loss @ 276.5. Details

The technical summary data is suggesting a short of ITW if it tests 275.7 with a downside target of 269.01. We should have a stop loss in place at 276.5 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, 275.7, 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 273, target 275.7, Stop Loss @ 272.36 Details

If 273 begins to break higher, the technical summary data tells us to buy ITW just slightly over 273, with an upside target of 275.7. The data also tells us to set a stop loss @ 272.36 in case the stock turns against the trade. 273 is the first level of resistance above 271.95, and by rule, any break above resistance is a buy signal. In this case, 273, 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 slightly near 273, target 269.01, Stop Loss @ 273.64. Details

The technical summary data is suggesting a short of ITW if it tests 273 with a downside target of 269.01. We should have a stop loss in place at 273.64 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, 273, 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.

Check the time stamp on this data. Updated AI-Generated Signals for  Illinois Tool Works Inc. (ITW) available here: ITW.

ITW Ratings for November 09:

Term →	Near	Mid	Long
Rating	Strong	Strong	Neutral
P1	0	0	236.33
P2	273	269.01	250.82
P3	278.7	275.7	265.21

AI Generated Signals for ITW

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How do we know what is going on #behindthescenes of a company?  According to Stock Traders Daily, a 20-year #financialindustry innovator, the best way to do this to to watch the price action in the stock. The  Illinois Tool Works Inc. (NYSE: ITW) report below is a real world example. Included are trading plans for ITW, but this report is static. If you want an update, or a different stock, please get one here Unlimited Real Time Reports.