vf_investment

Sherwin-Williams Company (SHW) for SHORT

Short
NYSE:SHW   Sherwin-Williams Company (The)
Signals
Position: short Entry price: 286
Target: 272 SL: 275

Indicators
RSI is reversing from a position of overbought: good time for a short
DMI- is reversing indicating a bearish trend
Both Keltner channel and Bollinger bands indicate a strong trend

Pattern
The price is bouncing between the support and the resistance lines and the bearish trend has been confirmed

Conclusions
SWH develops, manufactures, distributes and sells paint, coatings and related products to professional, industrial, commercial and retail customers. Mostly based in the US.
The number of of new residential sales has been decreasing since May 2020 in the US. The fundamentals of the company, the Q2 earnings released today and the candles themselves cannot carry to break the resistance.



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