Sherwin-Williams: #PowerStocks Series Pick Of The Week (March 2024)

"You'll be the prince and I'll be the princess. It's a love story, baby, just say Yes". I bet you know this song, and it's playing in your head. Who knew this line would help increase the number of marriage proposals in Singapore over 2 weeks? Swift fever swept across Asia, with many foreigners flying in for her concert,  shops playing her songs, and events organized. After you've been dancing like you're 22, let's review last week's stock pick of the week: Vistra (VST).

Review Of Last Week's Pick Of The Week

Vistra's share price soared for 4 days before a drawdown on Fri. While this drawdown is 2%, this is a tiny amount given that it had soared by more than 50% in the past 3 months. Yes, I'm still waiting for a pullback and bounce off the key price level I'm looking at - ~$50. While we wait for this swing trading opportunity, shall we explore this week's swing trading opportunity: Sherwin-Williams (SHW)?

Why Is Swing Trading Sherwin-Williams (SHW) Worth It?

Source: sherwin-williams.com

Sherwin-Williams (SHW), this week’s #PowerStocks pick, develops, manufactures, distributes, and sells paints, coating, and related products. It engages in business-to-business and business-to-consumer sales. This company has been beating the stock market recently, and this outperformance looks set to continue. Its share price has also recently demonstrated its ability to explode by 18% in a few weeks! In addition, a pullback could be near, offering a highly anticipated swing trading opportunity. You'll want to read on for more details. P.S.: What if I told you that you could drastically gain control over your emotions of fear and greed, and master the stock market in a short period of time? My team and I have worked tirelessly to help you achieve results fast. Click on the banner below to claim your stock course for free (limited time) now!

Performance Of US Stock Market vs Sherwin-Williams (SHW)

Can you tell that both the S&P 500 and share price of Sherwin-Williams are trending higher? Does this mean you should buy both the S&P 500 and the shares of Sherwin-Williams? Wait a minute! Although Sherwin-Williams' shares lagged the S&P 500 at the start of this year, its performance has since been much stronger than that of the S&P 500. With this strong performance of its shares, you'll want to be on the lookout for buying opportunities.

How Explosive Is Sherwin-Williams (SHW)?

Has the share price of Sherwin-Williams proven to explode in short periods of time? 9. Its share price has exploded by 4.7% or more 9 times in the past 10 months. This doesn't sound that spectacular until you discover that this company enjoys a massive market capitalization of more than $86b! This is another positive for Sherwin-Williams's shares: it's safer to swing trade its shares than stocks with a smaller market capitalization. So, should you be buying its shares for a swing trade now?

Key Price Levels

The share price of Sherwin-Williams has flown by 12% in its latest move. Is it wise to buy its shares now? Let's uncover its key price levels (aka support and resistance zones). Zooming back to late 2021, you'll uncover 2 critical key levels - a resistance area ~$347, and a support area ~$325. Because Sherwin-Williams's share price is near its resistance zone and the fact that its most recent rise measures 12%, it'll be wise to wait for it to drop to ~$ $325 before considering a swing trading opportunity. Therefore, I'm eagerly waiting for its share price to drop to ~$325 and bounce before considering buying its shares for a swing trade. Finally, this is for educational purposes. Please perform your due diligence. All images are taken from pexels.com, pixabay.com, sectorspdrs.com, tradingview.com, and unsplash.com, unless otherwise mentioned.

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The stock market is full of traps laid out by professional traders. Many new traders are often left confused by conflicting signs and signals. Worse still, ~80% of traders lose money. This is because trading isn't just about skill alone. It includes the mastery of your emotions. But what if I told you that you could quickly gain control over your emotions of fear and greed and master the stock market? My team and I have worked tirelessly to help you achieve results fast. Click on the banner below to claim your stock course for free (limited time) now!