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After Yesterday's Rally of 1.14% Shares Could Potentially Pullback

By Nick Russo

Sherwin-Williams (NYSE:SHW) traded in a range yesterday that spanned from a low of $352.33 to a high of $354.94. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $354.64 on volume of 231,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Sherwin-Williams has traded in a range of $218.27 to $354.94 and is now at $354.44, 62% above that low. The 200-day and 50-day moving averages have moved 0.18% higher and 0.91% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Sherwin-Williams on November 10th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $263.63. Since that recommendation, shares of Sherwin-Williams have risen 33.0%. We continue to monitor SHW for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders sherwin-williams

Ticker(s): SHW