The Hourly View for ITW
At the time of this writing, ITW (Get Ratings)’s price is down $-0.92 (-0.39%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as ITW has now gone down 4 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
Out of Machinery stocks, ITW ranks 80th in regards to today’s price percentage change.
ITW’s Technical Outlook on the Daily Chart
At the moment, ITW’s price is down $-1.91 (-0.81%) from the day prior. This is the 2nd day in a row ITW has seen its price head down. As for the trend on the daily timeframe, we see the clearest trend on the 50 day timeframe. The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend. The chart below shows ITW’s price action over the past 90 days.
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