Will WILLIAMS COS INC breakout?

Our stock screener has flagged WILLIAMS COS INC (NYSE:WMB) as a potential breakout candidate. This occurs when the stock shows signs of consolidation after a notable upward trend. While we can't predict the actual breakout, it's worth monitoring NYSE:WMB for potential movement.

Analyzing the Technical Aspects

At ChartMill, a crucial aspect of their analysis is the assignment of a Technical Rating to each stock. This rating, ranging from 0 to 10, is calculated daily by considering numerous technical indicators and properties.

We assign a technical rating of 7 out of 10 to WMB. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, WMB is only an average performer.

• The long and short term trends are both positive. This is looking good!
• WMB is part of the Oil, Gas & Consumable Fuels industry. There are 217 other stocks in this industry. WMB outperforms 70% 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 the 33.73 - 36.32 range, which is quite wide. It is currently trading near the high of this range.
• Looking at the yearly performance, WMB did better than 73% of all other stocks. However, this overall performance is mostly based on the strong move around 4 months ago.

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

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 8 as its setup rating, suggesting a particular level of consolidation in the stock.

WMB has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 36.09. Right above this resistance zone may be a good entry point. Very recently a Pocket Pivot signal was observed. This is another positive sign.

How to trade NYSE:WMB?

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.

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 technical observations generated by automated analysis but does not guarantee any trading outcomes. Always trade responsibly and make independent judgments.

More breakout setups can be found in our Breakout screener.

Keep in mind

This article should in no way be interpreted as advice in any way. 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.