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|It was the third consecutive negative week for the Sherwin-Williams (SHW). During the week, the SHW gave back -0.34 points, or -0.13%, and closed at 268.40 on Friday, October 14, 2016. Weekly volume was -6% below average. |
Long-term trend: [See SHW long-term trend chart]
A long-term uptrend had started on September 29, 2015 at 218.27 and reached 312.48 on July 20, 2016. SHW gained -94.21 points, or -43.16%, in 42 weeks. The chart has formed a Rising Channel chart pattern. The price is near the trend support (272.19) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a long-term trend.
Medium-term trend: [See SHW medium-term trend chart]
A medium-term downtrend had started on July 20, 2016 at 312.48 and reached 261.39 on October 7, 2016. SHW lost 51.09 points, or 16.35%, in 11 weeks. The chart has formed a Falling Wedge chart pattern. The trend support level is at 264.91 and resistance is at 274.55. A Falling Wedge is a triangle formation with a noticeable slant to the downside. It represents the loss of a downside momentum on each successive low and has a bullish bias. The Falling wedge usually marks a reversal in a downtrend. In an uptrend a falling wedge is considered to be a continuation pattern. Use the following link to access a Falling Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Wedge pattern in a medium-term trend.
Weekly Technical Indicators: [See SHW weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Williams' Percentage Range and Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is below its signal line since July 22, 2016. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current medium-term downtrend is strong. Use the following link to access a MACD help.
Short-term trend: [See SHW short-term trend chart]
A short-term downtrend had started on September 23, 2016 at 283.93 and reached 261.39 on October 7, 2016. SHW lost 22.54 points, or 7.94%, in 14 days. The price is now at the 31.10% retracement level.
Daily Technical Indicators: [See SHW daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal.
The daily MACD line is below its signal line since October 3, 2016. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.