Sherwin-williams (SHW) Trading Report

view original post

Source: Stock Traders Daily

Longer Term Trading Plans for SHW
  • Buy SHW over 246.85 target 283.18 stop loss @ 246.14 Details
  • The technical summary data tells us to buy SHW near 246.85 with an upside target of 283.18. This data also tells us to set a stop loss @ 246.14 to protect against excessive loss in case the stock begins to move against the trade. 246.85 is the first level of support below 268.08 , and by rule, any test of support is a buy signal. In this case, support 246.85 would be being tested, so a buy signal would exist.

  • Short SHW under 283.18, target 246.85, stop loss @ 284 Details
  • The technical summary data is suggesting a short of SHW as it gets near 283.18 with a downside target of 246.85. We should have a stop loss in place at 284though. 283.18 is the first level of resistance above 268.08, and by rule, any test of resistance is a short signal. In this case, if resistance 283.18 is being tested, so a short signal would exist.

Swing Trading Plans for SHW
  • Buy SHW over 279.12, target 283.18, Stop Loss @ 278.31 Details
  • If 279.12 begins to break higher, the technical summary data tells us to buy SHW just over 279.12, with an upside target of 283.18. The data also tells us to set a stop loss @ 278.31 in case the stock turns against the trade. 279.12 is the first level of resistance above 268.08, and by rule, any break above resistance is a buy signal. In this case, 279.12, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

  • Short SHW near 279.12, target 266.22, Stop Loss @ 279.93. Details
  • The technical summary data is suggesting a short of SHW if it tests 279.12 with a downside target of 266.22. We should have a stop loss in place at 279.93 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 279.12, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for SHW
  • Buy SHW over 269.79, target 275.62, Stop Loss @ 269.16 Details
  • If 269.79 begins to break higher, the technical summary data tells us to buy SHW just over 269.79, with an upside target of 275.62. The data also tells us to set a stop loss @ 269.16 in case the stock turns against the trade. 269.79 is the first level of resistance above 268.08, and by rule, any break above resistance is a buy signal. In this case, 269.79, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

  • Short SHW near 269.79, target 266.22, Stop Loss @ 270.42. Details
  • The technical summary data is suggesting a short of SHW if it tests 269.79 with a downside target of 266.22. We should have a stop loss in place at 270.42 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 269.79, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

SHW Technical Summary | Raw Data for the Trading Plans

Term → Near Mid Long
Bias Weak Weak Neutral
P1 0 0 246.85
P2 269.79 266.22 283.18
P3 275.62 279.12 319.36

This report was produced using AI developed by Stock Traders Daily.  Over the past 20 years this proprietary AI has been refined to help identify the most opportune trading strategies for both individual stocks and the stock markets themselves.  This methodology is also applied to Index options, ETFs, and futures.  The objective of this specific report is to optimize trading in Sherwin-williams (NYSE: SHW) while incorporating prudent risk controls.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for SHW change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

Subscribers also receive market analysis, stock correlation tools, macroeconomic observations, timing tools, and protection from market crashes using Evitar Corte.  

Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if SHW is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for SHW too.  All of these are offered below the Summary Table.

Graph of Evitar Corte vs. S&P 500

Fundamental Charts for SHW