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Illinois Tool Works Bearish Moving Average Crossover Alert (ITW)

By Shiri Gupta

Illinois Tool Works (NYSE:ITW) shares have crossed bearishly below their 10-day moving average of $104.73 on a volume of 273K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, Illinois Tool Works has traded in a range of $78.79 to $106.19 and is now at $104.22, 32% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.6%.

SmarTrend recommended that subscribers consider buying shares of Illinois Tool Works on January 27th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $86.31. Since that recommendation, shares of Illinois Tool Works have risen 21.6%. 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