• Return to Headlines

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

By James Quinn

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. Yesterday's price range of $23.70 and $23.87 is within the prior day'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 has overhead space with shares priced $23.86, or 27.1% below the average consensus analyst price target of $32.74. The stock should hit resistance at its 200-day moving average (MA) of $25.34, as well as support at its 50-day MA of $22.87.

In the past 52 weeks, shares of Williams Cos Inc have traded between a low of $21.90 and a high of $29.55 and closed yesterday at $23.86, which is 9% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has remained constant.

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 am inside day candle williams cos inc

Ticker(s): WMB