SHW finds buyers at key support level


Sherwin-Williams (SHW) Technical Analysis Report for Aug 10, 2018 [1 min read]
Highlights
SHW finds buyers at key support level
SHW runs into sellers again around 444.91
SHW falls to lowest close since August 3rd
SHW closes within previous day's range after lackluster session
SHW ends the day indecisive
TQ Sentiment
Report Sentiment: 0% Neutral
Technical Forecast:
Overview

SHW ended the week 0.02% higher at 442.99 after losing $1.06 (-0.24%) today. Today's closing price of 442.99 marks the lowest close since August 3rd. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for SHW
Volatility

Friday's trading range was $5.22 (1.18%), that's below last trading month's daily average range of $7.38. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being below average.

Support/Resistance

After trading as low as 439.69 during the day, the market bounced off the key support level at 440.46. The failure to close below the support might increase that levels importance as support going forward. After having been unable to move above 445.37 in the previous session, the share ran into sellers again around the same price level today, failing to move higher than 444.91.

Trend

Although the stock is currently in a short-term down trend, this could just be a correction, as the medium and long term trends are both positive.

Order Flow

Buying might accelerate should prices move above the nearby swing high at 447.66 where further buy stops could get activated. With prices trading close to this year's high at 450.83, upside momentum might speed up should Sherwin-Williams be able to break out to new highs for the year.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Sherwin-Williams
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
Bullish Bounce off SMA 20 TQ Pro Members Only
Up Close near high of period TQ Pro Members Only
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Sherwin-Williams traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Signup
Stocks Top Movers
ETHUSD 285.726.43 2.30%
INDU 25,558.73396.32 1.58%
CRUDE 65.450.55 0.85%
CAC 5,349.0243.80 0.83%
SPX 2,840.6922.32 0.79%
ASX 6,328.30-0.70 -0.01%
DXY 96.535-0.045 -0.05%
NKY 22,192.04-12.18 -0.05%
GOLD 1,181.0-0.8 -0.07%
HSI 27,100.06-223.53 -0.82%
Start your day with the facts moving the markets
By clicking "Subscribe", you agree to our terms and privacy policy.

Related Stocks

ABBV 10 day candlestick chart for ABBV98.22 0.77
0.79%
ACN 10 day candlestick chart for ACN162.89 2.48
1.55%
ADBE 10 day candlestick chart for ADBE248.89 -1.63
-0.65%
AAP 10 day candlestick chart for AAP159.49 1.46
0.92%
AES 10 day candlestick chart for AES13.87 0.38
2.82%
AET 10 day candlestick chart for AET198.47 1.18
0.60%
AFL 10 day candlestick chart for AFL46.50 0.21
0.45%
AMG 10 day candlestick chart for AMG146.29 0.86
0.59%
A 10 day candlestick chart for A65.50 0.77
1.19%
ABT 10 day candlestick chart for ABT64.16 0.69
1.09%