SHERWIN-WILLIAMS CO. - 1H - Technical analysis published on 10/27/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Bearish
Underlying:
Strongly bearish
Technical indicators
22%
44%
33%
My opinion
Bearish under 241.16 USD
My targets
232.10 USD (-2.32%)
221.72 USD (-6.69%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on SHERWIN-WILLIAMS CO. as long as the price remains well below 241.16 USD. The next bearish objective for sellers is set at 232.10 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 221.72 USD. If there is any crossing, the next objective would be the support located at 216.20 USD. Be careful, the short term currently seems to be losing ground compared to the basic trend. Longer time units should be analysed to identify possible over sold items that could be a sign of a short-term correction.
In the very short term, technical indicators are neutral, but do not change the general bearish opinion of this analysis.
Force
0
10
6.1
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
SHERWIN-WILLIAMS CO. rating 237.62 USD. The price is lower by -0.04% since the last closing and was traded between 237.02 USD and 239.90 USD over the period. The price is currently at +0.25% from its lowest and -0.95% from its highest.237.02
239.90
237.62
The Central Gaps scanner detects the formation of a bearish gap marking the strong presence of sellers ahead of buyers at the opening. This formed a quotation gap.
Opening Gap DOWN
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
A technical analysis in 1H of this SHERWIN-WILLIAMS CO. chart shows a sharp bearish trend. 89.29% of the signals given by moving averages are bearish. This strongly bearish trend is showing signs of slowing down given the slightly bearish signals given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, of the 18 technical indicators analysed by Central Analyzer, 4 are bullish, 6 are neutral and 8 are bearish. But beware of excesses. The Central Indicators scanner currently detects this:
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
MACD crosses DOWN its Moving Average
Type : Bearish
Timeframe : 1 hour
The analysis of the price chart with Central Patterns scanners does not return any result.
The presence of these Japanese chandelier patterns detected by Central Candlesticks that could impact the current short-term trend were also noted:
Bullish harami
Type : Bullish
Timeframe : 1 hour
Doji
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 221.72 | 232.10 | 237.01 | 237.62 | 241.16 | 248.58 | 257.58 |
| Change (%) | -6.69% | -2.32% | -0.26% | - | +1.49% | +4.61% | +8.40% |
| Change | -15.90 | -5.52 | -0.61 | - | +3.54 | +10.96 | +19.96 |
| Level | Intermediate | Major | Intermediate | - | Minor | Major | Major |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 232.58 | 235.02 | 236.37 | 238.81 | 240.16 | 242.60 | 243.95 |
| Camarilla | 236.67 | 237.02 | 237.36 | 237.71 | 238.06 | 238.41 | 238.75 |
| Woodie | 232.03 | 234.75 | 235.82 | 238.54 | 239.61 | 242.33 | 243.40 |
| Fibonacci | 235.02 | 236.47 | 237.37 | 238.81 | 240.26 | 241.16 | 242.60 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 214.17 | 225.62 | 231.66 | 243.11 | 249.15 | 260.60 | 266.64 |
| Camarilla | 232.89 | 234.49 | 236.10 | 237.70 | 239.30 | 240.91 | 242.51 |
| Woodie | 211.47 | 224.27 | 228.96 | 241.76 | 246.45 | 259.25 | 263.94 |
| Fibonacci | 225.62 | 232.30 | 236.43 | 243.11 | 249.79 | 253.92 | 260.60 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 218.03 | 233.48 | 244.27 | 259.72 | 270.51 | 285.96 | 296.75 |
| Camarilla | 247.83 | 250.24 | 252.65 | 255.05 | 257.46 | 259.86 | 262.27 |
| Woodie | 215.69 | 232.32 | 241.93 | 258.56 | 268.17 | 284.80 | 294.41 |
| Fibonacci | 233.48 | 243.51 | 249.70 | 259.72 | 269.75 | 275.94 | 285.96 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 45.85 | |
| MACD (12,26,9): | -0.3600 | |
| Directional Movement: | -0.71 | |
| AROON (14): | -78.57 | |
| DEMA (21): | 238.11 | |
| Parabolic SAR (0,02-0,02-0,2): | 241.94 | |
| Elder Ray (13): | -0.94 | |
| Super Trend (3,10): | 242.43 | |
| Zig ZAG (10): | 237.80 | |
| VORTEX (21): | 1.0900 | |
| Stochastique (14,3,5): | 24.21 | |
| TEMA (21): | 238.76 | |
| Williams %R (14): | -77.83 | |
| Chande Momentum Oscillator (20): | -0.65 | |
| Repulse (5,40,3): | -0.0200 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0200 | |
| Courbe Coppock: | 0.11 |
| MA7: | 237.79 | |
| MA20: | 246.75 | |
| MA50: | 257.79 | |
| MA100: | 260.11 | |
| MAexp7: | 238.42 | |
| MAexp20: | 238.68 | |
| MAexp50: | 240.46 | |
| MAexp100: | 244.12 | |
| Price / MA7: | -0.07% | |
| Price / MA20: | -3.70% | |
| Price / MA50: | -7.82% | |
| Price / MA100: | -8.65% | |
| Price / MAexp7: | -0.34% | |
| Price / MAexp20: | -0.44% | |
| Price / MAexp50: | -1.18% | |
| Price / MAexp100: | -2.66% |
Quotes :
-
15 min delayed data
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NYSE Stocks
News
The last news published on SHERWIN-WILLIAMS CO. at the time of the generation of this analysis was as follows:
- The Sherwin-Williams Company Reports 2023 Third Quarter Financial Results
- Sherwin-Williams Declares Dividend of $0.605 per Common Share
- Sherwin-Williams Board of Directors Elects Heidi Petz CEO Effective January 1, 2024
- Sherwin-Williams to Announce Third Quarter 2023 Financial Results on October 24, 2023
- Sherwin-Williams to Hold Financial Community Presentation on August 24, 2023
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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