Technical Setup: WILLIAMS COS INC Appears Poised for a Breakout.

WILLIAMS COS INC (NYSE:WMB) was identified as a Technical Breakout Setup Pattern by our stockscreener. Such a pattern occurs when we see a pause in a strong uptrend: after a strong rise the stock is consolidating a bit and at some point the trend may be continued. Whether this actually happens can not be predicted of course, but it may be a good idea to keep and eye on NYSE:WMB.

Insights from Technical Analysis

ChartMill utilizes a proprietary algorithm to assign a Technical Rating to every stock. This rating, ranging from 0 to 10, is computed daily by analyzing a variety of technical indicators and properties.

Taking everything into account, WMB scores 10 out of 10 in our technical rating. Both in the recent history as in the last year, WMB has proven to be a steady performer, scoring decent points in every aspect analyzed.

• The long and short term trends are both positive. This is looking good!
• When comparing the yearly performance of all stocks, we notice that WMB is one of the better performing stocks in the market, outperforming 89% of all stocks. On top of that, WMB also shows a nice and consistent pattern of rising prices.
• WMB is part of the Oil, Gas & Consumable Fuels industry. There are 212 other stocks in this industry. WMB outperforms 77% of them.
• WMB is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
• In the last month WMB has a been trading in a tight range between 39.64 and 41.89.

Check the latest full technical report of WMB for a complete technical analysis.

How does the Setup look for NYSE:WMB

Besides the Technical Rating, ChartMill also assign a Setup Rating to every stock. This setup score also ranges from 0 to 10 and determines to which extend the stock is consolidating. This is achieved by evaluating multiple short term technical indicators. NYSE:WMB currently has a 9 as setup rating:

WMB has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 41.52. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 41.11, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.

How can NYSE:WMB be traded?

A breakout could materialize when the stock breaks out to new highs above the current consolidation zone. One could wait for this to happen and buy when this happens. A stop loss could be placed below the consolidation zone.

Of course, there are many ways to trade or not trade NYSE:WMB and this article should in no way be interpreted as trading advice. The article is purely based on an automated technical analysis and just points out the technical observations. Always make your own analysis and trade at your own responsibility.

More breakout setups can be found in our Breakout screener.

Disclaimer

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.