Sherwin-Williams spikes - Analysis - 27-04-2022

Sherwin-Williams' stock rallied 9.41% in the last session, settling at 271.37, with trading volumes surpassing 5 million shares.

The paint company reported profits of $1.61 per share, on earnings of $5 billion, passing estimates of $4.92 billion.

The stock has managed to pierce the downward correctional short-term trend line, surpassing the resistance of the 50-day SMA amid positive signals from the RSI.

Therefore we expect more gains for the stock, targeting the first resistance at 295.75, provided it settles above 266.77.  

Expected trend for today: Bullish