Paint Distributor Leader in Strong Trend Sets Up Bullish Flag
Sherwin Williams (SHW) shares are forming a strong bull flag that kissed the rising 55-day MA last week near 265 and bounced nicely from there to close the week back over the 8 EMA and monthly POC. SHW has held up very well since its earnings gap up in late July and just recently pulled back to fill that gap where buyers came in swiftly. SHW can breakout above monthly value area high at 276 (also lines up with 2022 yearly value area highs) with a potential first target of the 284 prior highs and then the 300 level has a magnet likely above being an untested VPOC from early 2022.