Stock Chart Analysis GWW
W.W. Grainger, Inc. (Public, NYSE:GWW)
GWW is looking like it has some more room to the downside here. It failed to match it's previous high and then dropped on increased volume. It cleared an established channel to the downside in the process and could be headed all the way down to the bottom of a larger possible consolidation pattern. If the markets react negatively to whatever the Fed has to say, then I think GWW is a pretty decent short setup.
Good Trading,
Joey
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Yea Joey, I noticed this pattern in GWW yesterday. I was long from $89 for a couple days looking for it to rebound a few points but after the way it traded and failed to hold up I closed out the trade. looking for it to fall at least back to $85.40.
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