Select a category
Advertisement
Investopedia 19 s 13
Shares in paint maker Sherwin-Williams (SHW) are likely to remain in focus after jumping in extended trading Friday following news that the company will be included in the Dow Jones Industrial Average.
Sherwin-Williams will replace chemicals giant Dow Inc. (DOW) in the price-weighted index, which tracks 30 large companies. S&P Dow Jones Indices also announced that AI investor favorite Nvidia (NVDA) will replace struggling chipmaker Intel (INTC), with the changes taking effect prior to the start of trading on Friday.
Sherwin-Williams shares have gained around 15% since the start of the year as of Friday’s close, outpacing the DJIA’s return of about 12% over the same period. Although the company missed earnings estimates in its latest quarter, it has surpassed Wall Street’s expectations in the majority of the past 20 quarters, according to FactSet data, showcasing the paint maker’s long-term profitability.
The stock rose 3.4% to $370 in after-hours trading on Friday.
Below, we review the technicals on Sherwin-Williams' weekly chart and identify important price levels that investors may be watching.
Since topping out in late 2021, Sherwin-Williams shares carved out a textbook cup and handle, a bullish chart pattern that resembles a cup with a handle and signals a continuation of the stock’s longer-term uptrend.
Indeed, the shares broke out above the formation in mid-August, but have recently retraced towards the initial breakout point, potentially leading to a retest of the pattern's upper trendline.
Let’s use technical analysis to identify two important support levels on Sherwin-Williams chart and forecast a measured move price target.
The first support level to eye sits around $348, where the shares may encounter buying interest near the cup and handle's upper trendline, which may have flipped from a region of prior resistance into future support.
A failure by bulls to defend this important technical level could see the stock revisit lower support at the $283 level, currently just above the closely watched 200-week moving average.
Investors may seek entry points near a trendline in this area connecting a range of comparable price action on the chart between May 2021 and June this year.
To forecast a bullish price target, we can use the measured move technique, also known by chart watchers as the measuring principle.
This works by calculating the depth of the cup portion of the pattern and adding that amount to the formation's upper trendline. For instance, we add $155 to $348, which projects a measured move target of $503, an area where investors could take profits, especially given its proximity to a psychological round number.
Do you have a news tip for Investopedia reporters? Please email us at [email protected]
Read more on Investopedia
Instablog9ja
60 m
13
Singer Crazeclown has shared his two cents on the trending ‘workout videos’ involving Equatorial Guinea’s financial crime chief and over 300 women.
He said, that equatorial Guinea’s minister is w#cked. The husbands of those women would find it hard to forgive because do you know the level of comfort you must have gotten with a man to let him record you?
Advertisement
Investopedia
60 m
13
:max_bytes(150000):strip_icc()/KamalaHarris-b4a88982d87646ce8e708647fe2ba317.jpg)
The Democratic candidate, Vice President Kamala Harris, has outlined her “opportunity economy” throughout her campaign.
The economy has consistently ranked as the top concern for voters in the upcoming election. A recent Gallup poll showed that 43% of people cited economic issues as their top concern, up from 36% when asked in April. Inflation and the federal debt are among the most concerning economic issues to voters.
Both candidates have made the economy a major part of their pitch to voters. Here's what policies Harris said she would implement if elected as president.
To read more about the Harris's opponent's plan click here.
Do you have a news tip for Investopedia reporters? Please email us at [email protected]Read more on Investopedia
Healthwatch
1 h
21
As the adage goes, the eyes are the windows to the soul. So what does it mean to wish yours were a different color?
Apparently enough people share this desire to create a bustling market for color-changing eye drops, which are making the rounds through social media and online retailers.
Personalizing eye color might sound tempting, especially for younger people and those who enjoy experimenting with elements of fashion or style. But are over-the-counter, color-changing eye drops safe? The answer is a hard no, according to the American Academy of Ophthalmology (AAO), which recently issued a warning against "eye color-changing solutions."
Why shouldn't you try color-changing eye drops?
Color-changing eye drops aren't approved by the FDA, haven't been tested for safety or effectiveness, and could potentially damage people's eyes, the AAO warns.
"It might seem benign when you see a product like this online," says Dr. Michael Boland, an associate professor of ophthalmology and glaucoma specialist at Harvard-affiliated Mass Eye and Ear. "People think, 'Why not try it?'." "But there's no way to know what's in these bottles and no oversight over how they're being made."
How do the eye drops work?
That's not clear. Companies manufacturing the drops claim the products adjust levels of melanin in the iris, the colored portion of the eyeball. Purportedly, the effects begin to be visible within hours and can last for a week or longer. If a user wants enduring results, they'll need to continue using the product.
But these claims skirt a complete lack of evidence that the drops have any effects on the iris, much less the desired effects, Dr. Boland says.
"I've found zero descriptions of how they work in terms of a plausible mechanism," he says. The ingredients list includes things that might be found in other eye drops or drugs or even cosmetics, but nothing that would actually change your eye color."
How might the drops hurt your eyes?
The AAO lists a variety of potential safety risks from using these products or any other unregulated eye drops, including:
"All of those problems are possible, since we don't have any real idea what's in these bottles," Dr. Boland says. "The biggest concern is damage to the cornea, the clear part of the front of the eye. If the cornea is damaged by the chemicals in those bottles, you might lose vision."
Are there safe alternatives to change eye color?
Still hankering for a way to get, say, Taylor Swift's electric blue eyes or Julia Roberts' golden brown peepers? There is a trustworthy option, Dr. Boland says: colored contact lenses. But he recommends choosing that option with caution.
"Professionally prescribed and dispensed contact lenses are a safe way to change your eye color," he says. "But don't buy them online. Get them from a reputable source to make sure they've been regulated and evaluated as safe, because contacts can damage the eye if they're not designed properly or kept clean."
Source: Harvard Health Publishing
Instablog9ja
2 hrs
15
TV host Frank Edoho has responded to a follower who claimed to be his look-alike.
He said “they said you look like me? My Brother if most people agree that this is what I look like, I have to sadly agree that, my Brother, we are both unattractive”.
Advertisement
Instablog9ja
3 hrs
14
The Court of Appeal in Abuja has discharged and acquitted a former Chief Justice of Nigeria (CJN), Justice Walter Onnoghen, from his conviction of false assets declaration by the Code of Conduct Tribunal (CCT).
The conviction of Onnoghen was thrown out by the appellate court following the resolution of the issues that led to his trial and conviction. Former President Muhammadu Buhari had on January 25, 2019, about 29 days before the presidential election, suspended Onnoghen from office as the CJN and swore in the next most senior jurist of the Supreme Court, Justice Tanko Muhammad, to take over the leadership of the judiciary. Delivering judgment, the Presiding Justice, Justice Abba Mohammed, adopted the terms of settlement between the federal government and Onnoghen.
He also ordered that the four bank accounts of the former CJN forfeited be returned to him. Shortly after the judgment, Counsel to Onnoghen and Senior Advocate of Nigeria (SAN), Adegboyega Awomolo, thanked President Tinubu and the Attorney General of the Federation (AGF) Lateef Fagbemi for ensuring the resolutions of the issue. Onnoghen’s suspension came barely eight hours after he announced his decision to inaugurate judges who would preside over election petition tribunals. Ex-President Buhari’s action elicited varied reactions from both within and outside the judicial circles, with the Nigerian Bar Association, NBA, describing it as a coup against the judiciary.
Onnoghen was later convicted by the Code of Conduct Tribunal, cCT, on a six-count corruption charge that was preferred against him by the Federal Government. It was alleged that he made a false declaration to the Code of Conduct Bureau. The parties involved settled that the code of conduct tribunal lacked the jurisdiction to try and convict the former CJN without resorting to the National Judicial Council.
Secondly, the tribunal lacked the Jurisdiction to have tried and convicted the former CJN, even after he had voluntarily tendered his retirement letter, which was accepted by the then President. Thirdly, the tribunal lacked the Jurisdiction to entertain the matter without resorting to the NJC. Lastly, all parties shall take steps to give a positive effect to the terms of the settlement.
