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Illinois Tool Works: 52-Week High Recently Eclipsed (ITW)

By Amy Schwartz

Illinois Tool Works (NYSE:ITW) traded today at a new 52-week high of $149.57. This new high was reached on below average trading volume as 92,000 shares traded hands, while the average 30-day volume is approximately 1.5 million shares.

Based on a current price of $149.46, Illinois Tool Works is currently 10.4% above its average consensus analyst price target of $133.94. The stock should discover initial support at its 50-day moving average (MA) of $101.50 and subsequent support at its 200-day MA of $91.78.

In the past 52 weeks, Illinois Tool Works share prices have been bracketed by a low of $78.79 and a high of $149.57 and are now at $149.46, 90% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.7%.

Illinois Tool Works Inc. designs and manufactures fasteners and components, equipment and consumable systems, and a variety of specialty products and equipment. The Company's products include industrial fluids and adhesives, tooling for specialty applications, welding products, and quality measurement equipment and systems. Illinois Tool Works operates worldwide.

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 28.0%. We continue to monitor ITW for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows Illinois Tool Works

Ticker(s): ITW