Скачать или смотреть Technical Analysis: Sherwin-Williams Rises 4.61% on Heavy Volume: Watch For Pullback

Sherwin-Williams (NYSE:SHW) traded in a range yesterday that spanned from a low of $77.34 to a high of $79.53. Yesterday, the shares gained 4.61%, which took the trading range above the 3-day high of $78.39 on volume of 1.5 million shares.

Shares of Sherwin-Williams are currently trading above their 50-day moving average (MA) of $70.18 and above their 200-day MA of $63.14. Look for these MAs to provide support for a short-term pullback in the shares.

SmarTrend is bullish on shares of Sherwin-Williams and our subscribers were alerted to Buy on November 16, 2009 at $60.84. The stock has risen 30.6% since the alert was issued.

SmarTrend has the shares in an Uptrend and expects the share price to pullback toward the $78.39 support level. Afterwards, we expect it to move upward with its peers in the SmarTrend Building Textile & Paint industry.