Based on good technical signals, WILLIAMS COS INC is potentially setting up for a breakout.

Our stock screener has identified WILLIAMS COS INC (NYSE:WMB) as a potential breakout candidate. This technical breakout setup pattern occurs when the stock consolidates after a strong uptrend. While the actual breakout is uncertain, it may be worth keeping an eye on NYSE:WMB.

In-Depth Technical Analysis of NYSE:WMB

Every day ChartMill assigns a Technical Rating to every stock. The score ranges from 0 to 10 and is determined by evaluating multiple technical indicators and properties.

Taking everything into account, WMB scores 10 out of 10 in our technical rating. 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!
• When comparing the yearly performance of all stocks, we notice that WMB is one of the better performing stocks in the market, outperforming 79% of all stocks. We also observe that the gains produced by WMB over the past year are nicely spread over this period.
• WMB is part of the Oil, Gas & Consumable Fuels industry. There are 211 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 41.52 and 43.36.

For an up to date full technical analysis you can check the technical report of WMB

How do we evaluate the setup for NYSE:WMB?

In addition to the Technical Rating, ChartMill provides a Setup Rating for each stock. This rating, ranging from 0 to 10, assesses the extent of consolidation in the stock based on multiple short-term technical indicators. Currently, NYSE:WMB has a 9 as its setup rating:

WMB has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 42.99. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 42.64, 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?

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.

This article should in no way be interpreted as trading advice. You should always make your own analysis and trade or not trade based on your own observations and style. The article is based purely on some technical observations.

More breakout setups can be found in our Breakout screener.

Keep in mind

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.