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Sitting on a Cash Pile 10.0? Early Economic Indicator Broke Out

#buy #cash #bullish

$ITW

Illinois Tool Works Inc. (NYSE:ITW) an early economic indicator broke out above the cloud on Tuesday, 12 January at 209.34. Garnering a HeffX-LTN buy rating Wednesday with a target price of 242 with the caveat that the economy continues to build in the mid-term.

The Key support is at 142.02 and there is little to no overhead resistance.

ITW is trading at 209.34 with its 52 wk trading range of 115.94 – 224.69

We are Bullish across the board in here with the above mentioned caveat.

Illinois Tool Works Inc. manufactures and sells industrial products and equipment worldwide.

It operates through 7 segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.

The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses.

The Food Equipment segment provides ware washing, cooking, refrigeration, and food processing equipment; kitchen exhaust, ventilation, and pollution control systems and food equipment maintenance and repair services.

The Test & Measurement and Electronics segment produces equipment, consumables, and related software for testing and measuring of materials and structures, as well as equipment and consumables used in the production of electronic subassemblies and microelectronics.

The Welding segment produces arc welding equipment; and metal arc welding consumables and related accessories.

The Polymers & Fluids segment produces adhesives, sealants, lubrication and cutting fluids, and fluids and polymers for auto aftermarket maintenance and appearance.

The Construction Products segment offers engineered fastening systems and solutions for the residential construction, renovation/remodel, and commercial construction markets.

The Specialty Products segment offers beverage packaging equipment and consumables, product coding and marking equipment and consumables, and appliance components and fasteners.

It serves the automotive OEM/tiers, commercial food equipment, construction, general industrial, and automotive aftermarket end markets.

The company distributes its products directly to industrial manufacturers, as well as through independent distributors.

Illinois Tool Works Inc. was founded in Y 1912 and is HQ’d in Glenview, Illinois.

Have a healthy day, Keep the Faith!

Paul Ebeling
Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.   

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