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

By Amy Schwartz

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 $21.67 and $21.75 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.

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.

In the past 52 weeks, Williams Cos Inc share prices have been bracketed by a low of $21.55 and a high of $29.55 and closed yesterday at $21.68, 1% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has remained constant.

Potential upside of 51.0% exists for Williams Cos Inc, based on a current level of $21.68 and analysts' average consensus price target of $32.74. Williams Cos Inc shares should first meet resistance at the 50-day moving average (MA) of $23.01 and find additional resistance at the 200-day MA of $24.94.

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: bullish am inside day candle williams cos inc

Ticker(s): WMB