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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 $23.70 and $23.87 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.

Williams Cos Inc (NYSE:WMB) has potential upside of 37.3% based on a current price of $23.84 and analysts' consensus price target of $32.74. Williams Cos Inc shares should encounter resistance at the 200-day moving average (MA) of $25.37 and support at the 50-day MA of $22.86.

In the past 52 weeks, Williams Cos Inc share prices have been bracketed by a low of $21.90 and a high of $29.55 and are now at $23.84, 9% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has slid 0.3%.

The Williams Companies, Inc. is an energy infrastructure company focused on connecting North America's hydrocarbon resource plays to growing markets for natural gas, natural gas liquids (NGLs), and olefins. The Company owns and operates midstream gathering and processing assets, and interstate natural gas pipelines.

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