Exploring WILLIAMS COS INC (NYSE:WMB)'s Technical Signals and Breakout Potential.

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.

Analyzing the Technical Aspects

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 8 out of 10 in our technical rating. In the last year, WMB was one of the better performers, but we do observe some doubts in the very recent evolution.

• 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 part of the Oil, Gas & Consumable Fuels industry. There are 209 other stocks in this industry. WMB outperforms 92% of them.
• WMB is currently trading in the upper part of its 52 week range. The market is still in the middle of its 52 week range, so WMB slightly outperforms the market at the moment.
• In the last month WMB has a been trading in the 52.79 - 59.15 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

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

Why is WMB a setup?

Next to the Technical Rating, the Setup Rating of a stock determines to which extend the stock is consolidating. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. For WMB this score is currently 8:

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 very little resistance above the current price. There is a support zone below the current price at 56.79, a Stop Loss order could be placed below this zone.

Trading setups like 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.

Disclaimer: This article is not intended to provide trading advice. It is crucial to conduct your own analysis and consider your own observations and trading style when making investment decisions. The article solely presents technical observations and should not be relied upon as a sole basis for trading.

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

Disclaimer

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.