When (ITW) Moves Investors should Listen

January 15, 2024, 23:30 pm ET, BY Tyler- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for ITW

• Buy ITW slightly over 246.78 target 259.33 stop loss @ 246.07 Details

The technical summary data tells us to buy ITW near 246.78 with an upside target of 259.33. This data also tells us to set a stop loss @ 246.07 to protect against excessive loss in case the stock begins to move against the trade. 246.78 is the first level of support below 253.63 , and by rule, any test of support is a buy signal. In this case, support 246.78 is being tested, a buy signal would exist.

• Short ITW slightly under 259.33, target 246.78, stop loss @ 260.08 Details

The technical summary data is suggesting a short of ITW as it gets near 259.33 with a downside target of 246.78. We should have a stop loss in place at 260.08though. 259.33 is the first level of resistance above 253.63, and by rule, any test of resistance is a short signal. In this case, if resistance 259.33 is being tested, a short signal would exist.

Swing Trading Plans for ITW

• Buy ITW slightly over 254.17, target 259.33, Stop Loss @ 253.44 Details

If 254.17 begins to break higher, the technical summary data tells us to buy ITW just slightly over 254.17, with an upside target of 259.33. The data also tells us to set a stop loss @ 253.44 in case the stock turns against the trade. 254.17 is the first level of resistance above 253.63, and by rule, any break above resistance is a buy signal. In this case, 254.17, 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 254.17, target 251.22, Stop Loss @ 254.9. Details

The technical summary data is suggesting a short of ITW if it tests 254.17 with a downside target of 251.22. We should have a stop loss in place at 254.9 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, 254.17, 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 254.17, target 259.33, Stop Loss @ 253.58 Details

If 254.17 begins to break higher, the technical summary data tells us to buy ITW just slightly over 254.17, with an upside target of 259.33. The data also tells us to set a stop loss @ 253.58 in case the stock turns against the trade. 254.17 is the first level of resistance above 253.63, and by rule, any break above resistance is a buy signal. In this case, 254.17, 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 254.17, target 251.95, Stop Loss @ 254.76. Details

The technical summary data is suggesting a short of ITW if it tests 254.17 with a downside target of 251.95. We should have a stop loss in place at 254.76 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, 254.17, 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 January 15:

Term →	Near	Mid	Long
Rating	Weak	Neutral	Neutral
P1	0	0	234.23
P2	251.95	251.22	246.78
P3	253.99	254.17	259.33

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.