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Sherwin-Williams (SHW) Crosses Pivot Point Resistance at $159.02

Published on Tue, 01/08/2013 - 10:43
By Peter Chu

Shares of Sherwin-Williams (NYSE:SHW) opened today above their pivot of $158.10 and have already reached the first level of resistance at $159.02. Analysts will be watching for a cross of the next upside pivot targets of $159.56 and $161.02.

Sherwin-Williams (NYSE:SHW) defies analysts with a current price ($159.37) 0.3% above its average consensus price target of $158.86. The stock should discover initial support at its 50-day moving average (MA) of $150.62 and subsequent support at its 200-day MA of $136.45.

In the past 52 weeks, shares of Sherwin-Williams have traded between a low of $92.41 and a high of $161.74 and are now at $159.37, which is 72% above that low price. The 200-day and 50-day moving averages have moved 0.56% higher and 0.24% higher over the past week, respectively.

The Sherwin-Williams Company manufactures, distributes, and sells paints, coatings, and related products. The Company's products are sold to professional, industrial, commercial, and retail customers primarily in North and South America. Sherwin Williams also has additional operations in the Caribbean region, Europe and Asia.

By Peter Chu
pchu@fnno.com