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Watch for Sherwin-Williams to Potentially Pullback After Gaining 1.03% Yesterday

By James Quinn

Sherwin-Williams (NYSE:SHW) traded in a range yesterday that spanned from a low of $357.00 to a high of $361.27. Yesterday, the shares gained 1.0%, which took the trading range above the 3-day high of $357.80 on volume of 270,000 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, Sherwin-Williams share prices have been bracketed by a low of $239.48 and a high of $362.57 and are now at $359.87, 50% 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 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 35.2%. 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