ILLINIOS TOOL WORKS
(ITW-NYSE):
Technical Viewpoint: From a low
of $45.57 on Oct 29, 2010 prices
rallied, reaching a
high of $48.78
on Nov 9, 2010. A
decline saw prices pull back, reaching a
low of
$46.29 on Nov 23, 2010.
Another rally saw prices penetrate
resistance, closing 12/3/10
at $50.41. Technicals: MACD Index (MACD): A Buy Alert!
was given on Dec 3, 2010 when the solid line crossed the dotted line to the upside.
Support: Remains at $48.78. Resistance: Is at None at current levels.
Point & Figure: Reversed to the upside on Dec 3, 2010. A P&F upside
reversal takes place at $47.00. Summary: Technical indicators have turned bullish. BUY! ILLINIOS TOOL WORKS
(ITW-NYSE) @ $50.63 Stop: Use a protective stop of $48.13.
ILLINIOS TOOL WORKS is currently trading @ $50.41 plus $1.80 on Dec 5, 2010. Price Objective:
$62.50. Risk/Reward: $2.50 VS. $11.87. Today's Risk Reward Ratio: 5:1
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