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Building Materials Leader Forming Bullish Flag Pattern

by | May 21, 2023

Sherwin Williams (SHW) shares are forming a tightly wound coiling squeeze pattern and closed last week just below the monthly value area high of 235. A buy trigger above that level can see a quick breakout move to 250 where the YTD highs from February are waiting to be retested. SHW also hitting the ready to run scan as MACD sees a bullish cross and RSI above the 50 level. Last weeks pullback held the lower edge of value at 225 but would be a good spot to use as a stop loss if it slipped back lower.

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