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Watch for Sherwin-Williams to Potentially Pullback After Gaining 1.48% Yesterday

By Nick Russo

Sherwin-Williams (NYSE:SHW) traded in a range yesterday that spanned from a low of $534.89 to a high of $540.24. Yesterday, the shares gained 1.5%, which took the trading range above the 3-day high of $534.42 on volume of 297,000 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 $355.28 to $540.24 and is now at $535.16, 51% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 1.1%.

SmarTrend recommended that subscribers consider buying shares of Sherwin-Williams on July 23rd, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $479.14. Since that recommendation, shares of Sherwin-Williams have risen 10.1%. 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