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SmarTrend Watching for Potential Pullback in Shares of Illinois Tool Wo After 1.11% Gain

By Nick Russo

Illinois Tool Wo (NYSE:ITW) traded in a range yesterday that spanned from a low of $143.18 to a high of $144.70. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $143.50 on volume of 445,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Illinois Tool Wo share prices have been bracketed by a low of $134.45 and a high of $179.07 and are now at $144.38, 7% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.2%.

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