Technical Analysis: Sherwin-Williams Alert, Watch for 6.2% Technical Downtrend Continuation
Sherwin-Williams (NYSE:SHW) downgraded to Underweight from Equal Weight at Morgan Stanley. The stock closed yesterday at $69.81 on volume of 817,200 shares, below average daily volume of 1,399,500. Sherwin-Williams is currently below its 50-day moving average of $74.70 and should find support at its 200-day moving average of $66.79. SmarTrend is bearish on shares of SHW and our subscribers received a Downtrend alert on June 07, 2010 at $74.46, which has returned 6.2% to date.
Sherwin-Williams (NYSE:SHW) downgraded to Underweight from Equal Weight at Morgan Stanley. The stock closed yesterday at $69.81 on volume of 817,200 shares, below average daily volume of 1,399,500. Sherwin-Williams is currently below its 50-day moving average of $74.70 and should find support at its 200-day moving average of $66.79. SmarTrend is bearish on shares of SHW and our subscribers received a Downtrend alert on June 07, 2010 at $74.46, which has returned 6.2% to date.