Sherwin-Williams Company (The) Stock Forecast
Sherwin-Williams Company (The) stock price up 2.25% on Friday
(Updated on May 03, 2024)
The Sherwin-Williams Company (The) stock price gained 2.25% on the last trading day (Friday, 3rd May 2024), rising from $304.46 to $311.30. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.49% from a day low at $310.95 to a day high of $315.57. The price has risen in 7 of the last 10 days and is up by 1.75% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 475 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $610.81 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -2.16% during the next 3 months and, with a 90% probability hold a price between $292.77 and $336.81 at the end of this 3-month period.
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SHW Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 3.90%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Sherwin-Williams Company (The) stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $323.13. On a fall, the stock will find some support from the short-term average at $305.15. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for Sherwin-Williams Company (The) stock
Sherwin-Williams Company (The) finds support from accumulated volume at $304.49 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $4.62 between high and low, or 1.49%. For the last week, the stock has had daily average volatility of 2.03%.
Our recommended stop-loss: $296.56 (-4.73%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (SHW) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Sherwin-Williams Company (The) to open at $312.61, and during the day (based on 14 day Average True Range), to move between $304.48 and $318.12, which gives a possible trading interval of +/-$6.82 (+/-2.19%) up or down from last closing price. If Sherwin-Williams Company (The) takes out the full calculated possible swing range there will be an estimated 4.38% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $304.49 (2.19%) than the resistance at $321.16 (3.17%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sherwin-Williams Company (The) stock A Buy?
Sherwin-Williams Company (The) holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.551 Hold/Accumulate Unchanged
Predicted Opening Price for Sherwin-Williams Company (The) of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $312.61 ( 0.420%) | $311.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SHW
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 317.23 | 1.90 % | |
| R2 | 315.46 | 1.34 % | ||
| R1 | 314.37 | 0.99 % | ||
| Current price: | 311.30 | |||
| Support | S1 | 310.84 | -0.147 % | |
| S2 | 309.75 | -0.497 % | ||
| S3 | 307.99 | -1.06 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 342.00 | 9.86 % | |
| R2 | 336.81 | 8.19 % | ||
| R1 | 321.16 | 3.17 % | ||
| Current price | 311.30 | |||
| Support | S1 | 304.49 | -2.19% | |
| S2 | 303.73 | -2.43% | ||
| S3 | 302.36 | -2.87% |
SHW Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 16, 2024 | May 16, 2024 | Jun 07, 2024 | $0.715 | 0.230% |
| 2 | Feb 14, 2024 | Feb 23, 2024 | Mar 08, 2024 | $0.715 | 0.210% |
| 3 | Oct 17, 2023 | Nov 16, 2023 | Dec 08, 2023 | $0.610 | 0.210% |
| 4 | Jul 19, 2023 | Aug 17, 2023 | Sep 08, 2023 | $0.605 | 0.223% |
| 5 | Apr 19, 2023 | May 18, 2023 | Sep 08, 2023 | $0.605 | 0.223% |
FAQ
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