SHW (Sherwin-Williams Co.) offers an objective short entry around current levels (352.75) on today’s breakdown below this bearish rising wedge pattern. The current price targets are T1 at 331.10 & T2 at 317.35 with a potential third target that might be added, depending how the charts of both SHW & the homebuilder sector (XHB & ITB) develop going forward. The suggested stop is any move above 362 with a suggested beta-adjustment of 1.0.
SHW daily 2 July 20th