SHW Rallies +2.9% With Bulls Eyeing $386
$Sherwin-Williams(SHW)$
SHW Surged +2.90%: Testing Key Resistance, $386 Target in Sight
Latest Close Data
Closed at $341.03 (EST Jan 9), up +2.90% (+$9.62). Currently ~10.2% below its 52-week high of $379.65.
Core Market Drivers
The paint giant is trading higher, likely supported by resilient U.S. housing market data and steady industrial demand.
The stock is rebounding from recent volatility, with investors eyeing its consistent profitability and dominant market position.
Technical Analysis
Volume was 1.93M shares, with a Volume Ratio of 1.30, indicating above-average participation in the rally.
The MACD (DIF: 0.49, DEA: -1.48, MACD: 3.94) has just crossed into positive territory, signaling a potential bullish momentum shift.
The 6-day RSI at 68.80 is strong but not yet overbought, suggesting room for further upside.
Key Price Levels
Immediate Pivot/Resistance: $342.92 (Jan 8 resistance). A confirmed close above this level could accelerate the move.
Primary Support: $333.62 (Jan 8 support). This level must hold to maintain the short-term bullish structure.
Strong Resistance: $379.65 (52-week high).
Valuation Perspective
Trading at a forward P/E of 27.34x, which is slightly below its historical average of 28.85x, suggesting a more reasonable entry point relative to its own history.
Analyst Targets
Coverage from 22 analysts shows a strong consensus: 3 Strong Buy, 15 Buy, 10 Hold. The average price target is $386.28, implying ~13.3% upside from the current price.
Weekly Outlook
Expect consolidation near the $342 resistance. A successful breakout could target the $355-$365 zone in the near term. A failure and break below $333 support could see a retest of the $325-$328 area.
Risk Disclaimer
This analysis is for informational purposes only and not financial advice. Past performance is not indicative of future results. Trading involves risk, including the potential loss of principal. Always conduct your own research.
For SG users only, Welcome to open a CBA today and enjoy access to a trading limit of up to SGD 20,000 with unlimited trading on SG, HK, and US stocks, as well as ETFs.
🎉Cash Boost Account Now Supports 35,000+ Stocks & ETFs – Greater Flexibility Now
Find out more here.
Complete your first Cash Boost Account trade with a trade amount of ≥ SGD1000* to get SGD 688 stock vouchers*! The trade can be executed using any payment type available under the Cash Boost Account: Cash, CPF, SRS, or CDP.
Other helpful links:
💰Join the TB Contra Telegram Group to Get $10 Trading Vouchers Now🎉
How to open a CBA. How to link your CDP account. Other FAQs on CBA. Cash Boost Account Website.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
