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Downtrend ResistanceArchive
- 4/19/2024 -
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Sherwin-Williams (SHW) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Sherwin-Williams (SHW). During the week, the SHW dropped -12.29 points, or -3.86%, and closed at 305.96 on Friday, April 19, 2024. Weekly volume was 8% 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 (305.50). 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 (351.94) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. SHW may retest the broken support line. It is considered to be a resistance line now. 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.
During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. 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 305.37 on April 19, 2024. SHW lost 43.00 points, or 12.34%, in 22 days. Price is near the trend low.
 Daily Technical Indicators: [See SHW daily technical indicators chart]
Daily Relative Strength Index and Williams' Percentage Range are oversold while Lane's Stochastic is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Relative Strength Index and Williams' Percentage Range or strongly oversold daily 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, Relative Strength Index and Williams' Percentage Range 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. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term downtrend is strong.
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