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Possible Bearish Inside Day Candle Pattern Detected for Williams Cos Inc (NYSE:WMB)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Williams Cos Inc (NYSE:WMB) based on the price action in the company's shares. Today's price range of $24.24 and $24.42 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Williams Cos Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

The Williams Companies, Inc. operates as an energy infrastructure company primarily in the United States. The company's Northeast G&P segment engages in the natural gas gathering, compression, and processing business, as well as natural gas liquids (NGL) fractionation business in the Marcellus and Utica Shale regions in Pennsylvania, West Virginia, New York, and Ohio. Its Atlantic-Gulf segment operates Transco, a 9,900-mile interstate natural gas pipeline extending from Texas, Louisiana, Mississippi, and the Gulf of Mexico through Alabama, Georgia, South Carolina, North Carolina, Virginia, Maryland, Delaware, Pennsylvania, and New Jersey to the New York City metropolitan area.

Potential upside of 34.1% exists for Williams Cos Inc, based on a current level of $24.42 and analysts' average consensus price target of $32.74. The stock should run into initial resistance at its 50-day moving average (MA) of $25.51 and subsequent resistance at its 200-day MA of $26.35.

Williams Cos Inc share prices have moved between a 52-week high of $29.55 and a 52-week low of $20.36 and are now trading 20% above that low price at $24.42 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.1% while the 200-day MA has remained constant.

SmarTrend is monitoring the recent change of momentum in Williams Cos Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Williams Cos Inc in search of a potential trend change.

Keywords: bearish inside day candle williams cos inc

Ticker(s): WMB