Wednesday, November 21, 2012

Illinois Tool Works Inc. (NYSE: ITW)

llinois Tool Works Inc. manufactures various industrial products and equipment worldwide. Its Transportation segment offers plastic and metal components, fasteners, and assemblies; fluids and polymers; fillers and putties; polyester coatings, and patch and repair products. The companys Power Systems & Electronics segment provides arc welding equipment; metal arc welding consumables and related accessories; metal solder materials; equipment and services for microelectronics assembly; electronic components and component packaging. Its Industrial Packaging segment offers steel and plastic strapping and related tools and equipment; plastic stretch film and related equipment; paper and plastic products that protect goods in transit; and metal jacketing and insulation products.

The companys Food Equipment segment provides warewashing, cooking, refrigeration, and food processing equipment; and kitchen exhaust, ventilation, and pollution control systems; and food equipment service, maintenance, and repair. Its Construction Products segment offers anchors, fasteners, and related tools; metal plate truss components, and related equipment and software; and packaged hardware and other products for retail. The companys Polymers & Fluids segment provides adhesives; chemical fluids; epoxy and resin-based coating products; and hand wipes and cleaners. Its Decorative Surfaces segment offers laminate for furniture, office and retail space, and countertops; and laminate worktops.

To review Illinois' stock, please take a look at the 1-year chart of ITW (Illinois Tool Works, Inc.) below with my added notations:
1-year chart of ITW (Illinois Tool Works, Inc.)
Back in March, April and May ITW created a key resistance level at $58 (navy). That resistance level was a 52-week high breakout when the stock shot higher in mid-August. That breakout was a sign that the stock should be moving higher, which the stock did do. Now that ITW is pulling back, the old $58 resistance should provide support for the stock as it has already done on (4) separate occasions.

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