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Illinois Tool Works Bearish Moving Average Crossover Alert (ITW)

By Amy Schwartz

Today, shares of Illinois Tool Works (NYSE:ITW) have crossed bearishly below their 10-day moving average of $107.59 on a volume of 817K shares. This may provide swing traders with 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 $109.54 and is now at $106.31, 35% above that low. 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 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 25.2%. 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