Is WILLIAMS COS INC (NYSE:WMB) Ready to Break Out of Its Range?

Our stock screener has spotted WILLIAMS COS INC (NYSE:WMB) as a possible breakout candidate. A technical breakout setup pattern occurs when the stock is consolidating after a nice uptrend. Whether the actual breakout occurs remains to be seen of course, but it may be interesting to keep an eye on NYSE:WMB.

Zooming in on the technicals.

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 9 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 term trend is positive and the short term trend is neutral. The long term trend may just continue or reversal may be around the corner!
• When comparing the yearly performance of all stocks, we notice that WMB is one of the better performing stocks in the market, outperforming 93% of all stocks. We also observe that the gains produced by WMB over the past year are nicely spread over this period.
• WMB is one of the better performing stocks in the Oil, Gas & Consumable Fuels industry, it outperforms 93% of 210 stocks in the same industry.
• WMB is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so WMB is performing more or less in line with the market.
• In the last month WMB has a been trading in the 53.17 - 59.15 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.

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

Why is NYSE:WMB a setup?

ChartMill takes into account not only the Technical Rating but also assigns a Setup Rating to each stock. This rating, on a scale of 0 to 10, reflects the degree of consolidation observed based on short-term technical indicators. Currently, NYSE:WMB exhibits a 8 setup rating, indicating its consolidation status in recent days and weeks.

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 59.65. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 56.39, a Stop Loss order could be placed below this zone.

Trading setups like NYSE:WMB

A breakout opportunity may arise when the stock surpasses the current consolidation zone and reaches new highs. Traders often wait for this breakout before considering buying the stock. To manage risk, a stop loss order could be placed below the consolidation zone to limit potential losses.

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.

Our Breakout screener lists more breakout setups and is updated daily.

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.