Though we’re not obsessed with finding the Holy Grail in investing, sometimes we’re happy to come close to interesting observations.Take this point and figure chart of Sherwin Williams Co (ticker: SHW). It’s breaking down through a triple bottom.
We’re looking for some confirmation in our renko-charts and – yes – indeed, the daily chart shows the same phenomenon. Of course there is some logic as both techniques are based on the same technique. But with the CCI breaking down and the SAR almost flipping to the upper side we obtain some more accurate information to call it the day for Sherwin.
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