After Yesterday's Rally of 1.51% Shares Could Potentially Pullback
Sherwin-Williams (NYSE:SHW) traded in a range yesterday that spanned from a low of $272.26 to a high of $276.70. Yesterday, the shares gained 1.5%, which took the trading range above the 3-day high of $272.15 on volume of 453,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
In the past 52 weeks, shares of Sherwin-Williams have traded between a low of $218.27 and a high of $312.48 and are now at $276.30, which is 27% above that low price. 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 its subscribers protect gains by selling shares of Sherwin-Williams on August 19th, 2016 by issuing a Downtrend alert when the shares were trading at $286.71. Since that call, shares of Sherwin-Williams have fallen 5.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: rebounders sherwin-williams