Thursday, April 14, 2016

Illinois Tool Works - Chart of the Day

Illinois Tool Works (ITW) is the Barchart Chart of the Day.  The machinery and equipment company has a Trend Spotter buy signal, a Weighted Alpha of 16.60+, gained 5.54% in the last year and paid a 2.15% dividend.

The Chart of the Day belongs to Illinois Tool Works (ITW).  I found the machinery and equipment stock by using Barchart to sort today's All Time High list first for the most frequent new highs in the last month, then again for technical buy signals of 80% or better.  Next I used the Flipchart feature to review the charts for consistency.  Since the Trend Spotter signaled a buy on 1/29 the stock gained 16.49%.

Illinois Tool Works, Inc. manufactures and markets a variety of products and systems that provide specific, problem-solving solutions for a diverse customer base worldwide. The company's business units are divided into six segments: Engineered Products-North America; Engineered Products-International; Specialty Systems-North America; Specialty Systems-International; Consumer Products; and Leasing and Investments.

The status of Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the web site when you read this report.

Barchart technical indicators:

  • 100% technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 14 new highs and up 7.10% in the last month
  • Relative Strength Index 73.72%
  • Technical support level at 103.93
  • Recently traded at 104.93 with a 50 day moving average of 97.89
Fundamental factors:
  • Market Cap $38.14 billion
  • P/E 20.35
  • Dividend yield 2.15%
  • Revenue expected to be down .10% this year but grow again by 3.00% next year
  • Earnings estimated to increase 6.60% this year, an additional 9.30% next year and continue to compound at an annual rate of 8.41% for the next 5 years
  • Wall Street analysts issued 7 strong buy, 4 buy and 10 hold recommendations on the stock
The 50-100 Day MACD Oscillator has been a reliable technical trading strategy for this stock.

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