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Look for Shares of Illinois Tool Wo to Potentially Pullback after Yesterday's 5.06% Rise

By Shiri Gupta

Illinois Tool Wo (NYSE:ITW) traded in a range yesterday that spanned from a low of $151.99 to a high of $158.02. Yesterday, the shares gained 5.1%, which took the trading range above the 3-day high of $150.50 on volume of 695,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Illinois Tool Wo has traded in a range of $117.75 to $161.71 and is now at $157.49, 34% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has declined 0.4%.

SmarTrend is tracking the current trend status for Illinois Tool Wo and will alert subscribers who have ITW in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders illinois tool wo

Ticker(s): ITW