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

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish 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 $17.74 and $18.07 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. Traders and investors interested in shares of Williams Cos Inc may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

There is potential upside of 87.0% for shares of Williams Cos Inc based on a current price of $17.51 and an average consensus analyst price target of $32.74. The stock should find resistance at its 200-day moving average (MA) of $21.85, as well as support at its 50-day MA of $16.58.

In the past 52 weeks, shares of Williams Cos Inc have traded between a low of $8.41 and a high of $29.06 and closed yesterday at $17.51, which is 108% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1% while the 50-day MA has declined 1.6%.

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 tracking the current trend status for Williams Cos Inc and will alert subscribers who have WMB in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle williams cos inc

Ticker(s): WMB