Sherwin-Williams Gains 0.99% As Technicals Signal Bullish Momentum Near Yearly Highs

On the latest trading day (2025-08-12), The Sherwin-Williams closed at $358.09, marking a 0.99% gain, with an intraday range between $354.05 and $361.18. Volume reached 2.57 million shares, signaling sustained investor interest as prices approach yearly highs. The technical landscape reflects several interconnected dynamics.
Candlestick Theory
Recent price action shows a bullish bias, with the August 12th session forming a solid green candle closing near the daily high after testing support at $350.50 on August 11th. Key resistance is evident at the $361-$363 zone, tested unsuccessfully three times in June and again on August 12th. Support converges at $350.50 (August 11th low), backed by the psychologically significant $343 level where the 200-day moving average and the August 1st breakout candle’s low align, creating a robust demand area.
Moving Average Theory
The 50-day MA ($348.50) maintains its position above both the 100-day ($340.20) and 200-day ($338.80), confirming the primary uptrend. Recent closes have held consistently above the 50-day line, with the August 11th dip to $350.50 finding dynamic support at this level. The ascending slope of all three MAs reinforces bullish momentum, though a sustained break below the 50-day MA would signal near-term trend weakness.
MACD & KDJ Indicators
MACD shows a bullish crossover emerging above its signal line with a rising histogram, reflecting accelerating upside momentum. Meanwhile, the KDJ oscillator registers overbought conditions, with the %K line at 84 and %D at 82, both above the 80 threshold. This divergence between MACD’s strength signal and KDJ’s overbought warning suggests a potential near-term consolidation phase, though the MACD’s trajectory favors upside continuation upon resolution.
Bollinger Bands
Price is pressing against the upper Bollinger Band ($359.80) while bands widen moderately, indicating increasing volatility and potential breakout momentum. The July consolidation phase featured band contraction around $340, and the current expansion alongside price testing the upper boundary may precede an attempt to challenge the $363 resistance. Failure to hold above the middle band ($350.20) would hint at downside pressure.
Volume-Price Relationship
Volume surged 57% on August 1st’s 3.79% breakout rally, validating upward momentum. Recent advances toward $360 have occurred on above-average volume (2.56–2.62 million shares vs. 30-day avg of 1.92 million), confirming buyer conviction. However, diminished volume during the August 7–8 pullback underscores limited selling pressure, reinforcing the structural uptrend’s integrity.
Relative Strength Index (RSI)
The 14-day RSI reads 68, near overbought territory but not yet exceeding the 70 warning threshold. While the indicator shows room for further upside, its proximity to overbought levels coupled with the KDJ’s overextension implies that additional gains toward $363 may face near-term profit-taking. Historical reversions have occurred near RSI 70, warranting vigilance.
Fibonacci Retracement
Applying Fib levels to the swing low of $313.51 (April 8, 2025) and high of $399.71 (November 25, 2024) shows current price trading between the 50% ($356.61) and 61.8% ($366.78) retracements. The recent stall at $361.18 aligns with the 50% level’s gravitational pull, creating a technical hurdle. A decisive close above $361 would target the 61.8% retracement at $366.78, while rejection here may trigger retracement toward $343 support.
Confluence exists at the $361–$363 resistance zone, where Fib retracements, prior swing highs, and upper Bollinger Band resistance intersect. Bearish divergence appears between KDJ’s overbought signal and RSI’s near-overbought reading versus MACD’s bullish momentum. The convergence of volume-backed price strength and moving average alignment suggests dominant upside bias, though overbought oscillators and Fibonacci resistance warrant tactical caution for potential consolidation below $363 before another breakout attempt.