Will SHERWIN-WILLIAMS CO/THE breakout?

SHERWIN-WILLIAMS CO/THE (SHW)       237.6   +1.01 (+0.43%)


News Image
Will SHERWIN-WILLIAMS CO/THE breakout?7 days ago - Chartmill

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.

SHW Daily chart on 2023-01-25

Zooming in on the technicals.

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.

  • The long and short term trends are both positive. This is looking good!
  • In the last month SHW has a been trading in the 226.50 - 249.92 range, which is quite wide. It is currently trading near the high of this range.
  • When comparing the performance of all stocks over the past year, SHW turns out to be only a medium performer in the overall market: it outperformed 49% of all stocks.
  • SHW is part of the Chemicals industry. There are 122 other stocks in this industry, SHW did better than 48% of them.
  • SHW is currently trading in the middle of its 52 week range. This is in line with the S&P500 Index, which is also trading in the middle of its range.

Why is NYSE:SHW a setup?

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.

Trading breakout setups.

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.

Back

SHW Links

SHW News

News Image2 days ago - Market News VideoMonday 1/30 Insider Buying Report: BANC, SHWNews Image2 days ago - MarketBeatSherwin-Williams Company Stock: Is Now The Time To Buy?

Sherwin-Williams is getting bought on the dip but investors may want to wait for better confirmation the bottom is in, and will hold.

News Image6 days ago - Seeking AlphaHot Stocks: SHW, CUBI drop on earnings; LVS hits 52-week high; XM surges

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.

News Image6 days ago - ChartmillThursday's session: top gainers and losers in the S&P500 index

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.

News Image6 days ago - Market News VideoNotable Thursday Option Activity: SHW, LUV, AXPNews Image6 days ago - ChartmillThese S&P500 stocks have an unusual volume in today's session

Let's have a look at the S&P500 stocks with an unusual volume in today's session.

News Image6 days ago - The Motley Fool2 Stocks Pointing to a Tough 2023 Ahead

Pockets of weakness still exist even as the year has started out well for the stock market.

News Image6 days ago - ChartmillWhich S&P500 stocks are moving on Thursday?

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.

News Image6 days ago - The Motley FoolWhy Sherwin-Williams Stock Is Down Today

The company sees significant headwinds in 2023.

News Image6 days ago - Market News VideoS&P 500 Movers: SHW, TSLANews Image6 days ago - ChartmillWhat's going on in today's session: S&P500 gap up and gap down stocks

Let's have a look at the S&P500 gap up and gap down stocks in today's session.

News Image6 days ago - BloombergSherwin-Williams Sees ‘Very Challenging’ 2023 as Housing Market Slows

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.

Follow us for more