A possible breakout setup was detected on SHERWIN-WILLIAMS CO/THE (NYSE:SHW) by our stockscreener. A breakout pattern is formed when a stock consolidates after a strong rise up. We note that this pattern is detected purely based on technical analysis and whether the breakout actually materializes remains to be seen. It could be interesting to keep an eye on NYSE:SHW.
ChartMill assigns a proprietary Technical Rating to each stock. The score is computed daily by evaluating various technical indicators and properties. The score ranges from 0 to 10.
Overall SHW gets a technical rating of 7 out of 10. Although SHW is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
Next to the Technical Rating, the Setup Rating of a stock determines to which extend the stock is consolidating. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. For NYSE:SHW this score is currently 9:
SHW has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 252.02. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 244.32, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.
For a potential trade one would typically wait until the stock breaks out of the consolidation zone to enter the stock and it could be sold again for a loss when it would fall back below the zone.
This article should in no way be interpreted as trading advice. You should always make your own analysis and trade or not trade based on your own observations and style. The article is based purely on some technical observations.
More breakout setups can be found in our Breakout analyzer.
Sherwin-Williams is getting bought on the dip but investors may want to wait for better confirmation the bottom is in, and will hold.
SHW dropped on guidance included in its quarterly report. CUBI plunged on earnings news. LVS reached a 52-week high. XM surged on earning news and SAP saying it is looking to sell its stake.
Let's have a look at the top S&P500 gainers and losers one hour before the close of the markets of today's session.
Let's have a look at the S&P500 stocks with an unusual volume in today's session.
Pockets of weakness still exist even as the year has started out well for the stock market.
Let's have a look at what is happening on the US markets in the middle of the day on Thursday. Below you can find the top S&P500 gainers and losers in today's session.
The company sees significant headwinds in 2023.
Let's have a look at the S&P500 gap up and gap down stocks in today's session.
Sherwin-Williams Co. slumped in early trading after it provided earnings guidance that fell short of analyst expectations, underscoring macro pressures from a slowing US housing market and inflation.