Sherwin-Williams Company (SHW) for SHORT Signals
Position: short Entry price: 286
Target: 272 SL: 275
Indicators
RSI is reversing from a position of overbought: good time for a short
DMI - is reversing indicating a bearish trend
Both Keltner channel and Bollinger bands indicate a strong trend
Pattern
The price is bouncing between the support and the resistance lines and the bearish trend has been confirmed
Conclusions
SWH develops, manufactures, distributes and sells paint, coatings and related products to professional, industrial, commercial and retail customers. Mostly based in the US.
The number of of new residential sales has been decreasing since May 2020 in the US. The fundamentals of the company, the Q2 earnings released today and the candles themselves cannot carry to break the resistance.
0L5V trade ideas
a little upside on this one? potential 52w breakout very slow mover! so like always shares are better than calls for the names, breaking downtrend channel here, looking for a test of TP 2 in short term. ticker can turn beairhs if we enter the downtrend channel again, be careful! :) good luck as always. like and follow if you enjoy my ideas <3
Traditional|SHW|Long and shortLong and short SHW
Activation of the transaction only when the blue zone is fixed/broken.
Working out the local support and resistance levels of the triangle.
* Possible closing of a trade before reaching the take zone.
The "forecast" tool is used for more noticeable display of % (for the place of the usual % scale) of the price change, I do not put the date and time of the transaction, only %.
The breakdown of the upper blue zone - long.
Breakdown of the lower blue zone - short.
Working out the stop when the price returns to the level after activation + fixing in the red zone.
Blue zones - activation zones.
Green zone - take zone.
Red zone - stop zone (S-SL short stop, L-SL long stop).
Orange arrows indicate the direction of the take.
Red arrows indicate the direction of the stop.
Symmetrical Triangle Forming in Sherwin-Williams NYSE:SHW is forming a symmetrical triangle. This is a name with lots of momentum as it has been going up consistently for the past few months. Look for long entries with more reward than risk. First target would be previous highs, 2nd target is all time highs. Refer to the stop loss level in the chart.
Materials Sector Stocks Are Still Making Higher-Highs: SHWWhile many stocks are rapidly falling, large number of stocks in the Materials sector are not doing badly. Sherwin William (SHW) is a typical example. The stock price recently made higher-high and a pullback to value zone might worth waiting for before buying the stock...
N.B
- Let emotions and sentiments work for you
-ALWAYS Use Proper Risk Management In Your Trades