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Uptrend ExhaustionArchive
- 4/26/2024 -
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Sherwin-Williams (SHW) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a first positive week after 3 consecutive negative weeks for the Sherwin-Williams (SHW). During the week, the SHW climbed 0.49 points, or 0.16%, and closed at 306.45 on Friday, April 26, 2024. Weekly volume was 70% above average.
SHW is a member of Materials Sector. Materials is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See SHW long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 195.24 and reached 348.37 on March 28, 2024. SHW gained -153.13 points, or -78.43%, in 76 weeks. The chart has formed a Rising Channel chart pattern. The price is near the trend resistance line (306.09). The resistance is usually stronger when technical indicators are overbought. 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 resistance line in a long-term trend.
 Medium-term trend: [See SHW medium-term trend chart]
A medium-term uptrend had started on October 30, 2023 at 232.06 and reached 348.37 on March 28, 2024. SHW gained -116.31 points, or -50.12%, in 21 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (357.02) is broken. A broken support is considered to be a long-term bearish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend.
 Weekly Technical Indicators: [See SHW weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since April 12, 2024. 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 March 28, 2024 at 348.37 and reached 294.55 on April 23, 2024. SHW lost 53.82 points, or 15.45%, in 26 days. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (285.78) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a short-term trend.
Daily Technical Indicators: [See SHW daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. 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 link to access Lane's Stochastic help.
The daily MACD line is below its signal line since March 13, 2024. This is an indication that the short-term trend is down.
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.
During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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