WILLIAMS COS INC (NYSE:WMB) Technical Analysis observations.

We've identified WILLIAMS COS INC (NYSE:WMB) as a potential breakout candidate based on our stock screener's analysis. This breakout setup pattern suggests that after a strong uptrend, the stock is currently consolidating, potentially signaling a continuation of the trend. Keep an eye on NYSE:WMB for further developments.

What is the technical picture of NYSE:WMB telling us.

ChartMill assigns a Technical Rating to every stock. This score, ranging from 0 to 10, is updated daily and is determined by evaluating multiple technical indicators and properties.

We assign a technical rating of 10 out of 10 to WMB. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, WMB is showing a nice and steady performance.

• The long and short term trends are both positive. This is looking good!
• Looking at the yearly performance, WMB did better than 84% of all other stocks. On top of that, WMB also shows a nice and consistent pattern of rising prices.
• WMB is one of the better performing stocks in the Oil, Gas & Consumable Fuels industry, it outperforms 76% of 211 stocks in the same industry.
• 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 40.92 and 43.22.

Our latest full technical report of WMB contains the most current technical analsysis.

Looking at the Setup

Besides the Technical Rating, ChartMill assigns a Setup Rating to every stock to determine the degree of consolidation. This rating, ranging from 0 to 10, is updated daily and evaluates various short-term technical indicators. NYSE:WMB currently holds a 9 as its setup rating, suggesting a particular level of consolidation in the stock.

Besides having an excellent technical rating, WMB also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 42.68. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 42.46, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for WMB in the last couple of days, which is a good sign.

Trading setups like NYSE:WMB

One way to play this would be to wait for the actual breakout to happen and buy when the stock breaks out above the current consolidation zone. A possible place for a stop loss would be below this 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.

Every day, new breakout setups can be found on ChartMill in our Breakout screener.

Keep in mind

This article should in no way be interpreted as advice. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.