Sherwin Williams (SHW) – Paint Starts to Chip – May 30th, 2019
Bearish – SHW $426.44 – Materials
The bearish DailyPlay we chose for Thursday, May 30th is Sherwin Williams (SHW). SHW is part of the Materials Sector (XLB). XLB has declined 6.50% over the past month and its 1m and 6m trend turned bearish on May 7th while breaking below its $55 support level.
Sherwin William’s 1m and 6m trends turned bearish on May 21st while bouncing lower off its $430 resistance level. With a technical score of 6 (out of 10), HRL is a neutral stock that is starting to turn lower.
As a stop loss, if SHW was to trade above $430 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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