• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Williams-Sonoma (NYSE:WSM)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Williams-Sonoma (NYSE:WSM) based on the price action in the company's shares. Today's price range of $54.25 and $54.25 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-Sonoma may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Based on a current price of $54.25, Williams-Sonoma is currently 0.6% above its average consensus analyst price target of $53.94. The stock should run into initial resistance at its 50-day moving average (MA) of $57.32 and subsequent resistance at its 200-day MA of $58.23.

Williams-Sonoma, Inc. retails cooking and serving equipment, home furnishings, and home accessories through retail stores, mail order catalogs, and e-commerce. The Company offers its merchandise under the Williams-Sonoma, Pottery Barn, Pottery Barn Kids, Pottery Barn Teen, and West Elm.

In the past 52 weeks, Williams-Sonoma share prices have been bracketed by a low of $45.01 and a high of $73.99 and are now at $54.25, 21% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 0.3%.

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

Keywords: bearish inside day candle Williams-Sonoma

Ticker(s): WSM