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Look for Shares of Illinois Tool Wo to Potentially Rebound after Yesterday's 2.08% Sell Off

By Shiri Gupta

Illinois Tool Wo (NYSE:ITW) traded in a range yesterday that spanned from a low of $147.30 to a high of $151.98. Yesterday, the shares fell 2.1%, which took the trading range below the 3-day low of $149.91 on volume of 485,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Illinois Tool Wo has traded in a range of $117.75 to $158.69 and is now at $148.28, 26% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has risen 0.2%.

SmarTrend is monitoring the recent change of momentum in Illinois Tool Wo. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Illinois Tool Wo in search of a potential trend change.

Keywords: rebounders illinois tool wo

Ticker(s): ITW