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Shares of Illinois Tool Wo Has Fallen Below Previous 52-Week Low

By Nick Russo

Illinois Tool Wo (NYSE:ITW) traded today at a new 52-week low of $119.17. Approximately 126,000 shares have changed hands today, as compared to an average 30-day volume of 1.8 million shares.

Illinois Tool Works Inc. designs and manufactures fasteners, components, equipment, consumable systems, and a variety of specialty products and equipment. The Company's products include industrial fluids and adhesives, tooling for specialty applications, welding products, and quality measurement equipment and systems. Illinois Tool Works operates worldwide.

Over the past year, Illinois Tool Wohas traded in a range of $119.17 to $190.85 and are now at $119.96. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 2.1%.

There is potential upside of 41.5% for shares of Illinois Tool Wo based on a current price of $119.96 and an average consensus analyst price target of $169.73. Illinois Tool Wo shares should first meet resistance at the 200-day moving average (MA) of $163.34 and find additional resistance at the 50-day MA of $173.13.

SmarTrend recommended that its subscribers protect gains by selling shares of Illinois Tool Wo on February 27th, 2020 by issuing a Downtrend alert when the shares were trading at $173.31. Since that call, shares of Illinois Tool Wo have fallen 27.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows illinois tool wo

Ticker(s): ITW