GWW is showing a possible entry of a stage 3 distribution range, and into a stage 4 decline. The price recently busted below the 50 and 200 smas, and with large volume, has failed to recover above them. The 50 and 200 moving averages have begun to turn over. GWW has demonstrated poor relative strength (SPX). While the distribution services sector remains generally strong, many large market caps in the sector have transitioned out of their respective stage 2 advances.
Note
Short entry at $1,054 with stop at $1,120.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.