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Bullish Moving Average Cross by Illinois Tool Works (ITW)

By Amy Schwartz

Illinois Tool Works (NYSE:ITW) crossed over its 10-day moving average of $119.17 on a volume of 133K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, shares of Illinois Tool Works have traded between a low of $78.79 and a high of $123.50 and are now at $119.62, which is 52% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.7%.

SmarTrend recommended that subscribers consider buying shares of Illinois Tool Works on July 8th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $107.59. Since that recommendation, shares of Illinois Tool Works have risen 10.7%. We continue to monitor ITW for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Illinois Tool Works

Ticker(s): ITW