WILLIAMS COS INC is setting up nicely 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.

In-Depth Technical Analysis of NYSE:WMB

Every day, ChartMill assigns a Technical Rating to each stock, providing a score ranging from 0 to 10. This rating is determined by evaluating various technical indicators and properties.

We assign a technical rating of 10 out of 10 to WMB. 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.

• Both the short term and long term trends are positive. This is a very positive sign.
• Looking at the yearly performance, WMB did better than 85% of all other stocks. On top of that, WMB also shows a nice and consistent pattern of rising prices.
• 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 37.18 - 39.99 range, which is quite wide. It is currently trading near the high of this range.
• WMB is an average performer in the Oil, Gas & Consumable Fuels industry, it outperforms 68% of 213 stocks in the same industry.

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

Why is NYSE:WMB a setup?

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 8 as its setup rating:

Besides having an excellent technical rating, WMB 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 39.65. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 39.35, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

Trading breakout setups.

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.

Every day, new breakout setups can be found on ChartMill 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.