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Bullish Moving Average Cross by Illinois Tool Works (ITW)

By Nick Russo

Illinois Tool Works (NYSE:ITW) shares have crossed bullishly above their 10-day moving average of $137.28 on a volume of 102K shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.

Illinois Tool Works share prices have moved between a 52-week high of $142.82 and a 52-week low of $78.79 and are now trading 75% above that low price at $137.64 per share. The 200-day and 50-day moving averages have moved 0.24% higher and 0.69% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Illinois Tool Works on November 7th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $116.15. Since that recommendation, shares of Illinois Tool Works have risen 18.0%. 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