Bears Appeared on Williams
Published on Wednesday, 09 January 2013 04:15 Written by TradersHuddle Wire
New York, January 9th (TradersHuddle.com) - Shares of Williams Companies, Inc. (NYSE:WMB) ended the trading session lower by $0.42 or -1.24% from its previous close. Williams' price action formed what is considered to be a bearish engulfing candlestick chart pattern.
The Williams Companies, Inc. (NYSE:WMB) is an integrated natural gas company that produces, gathers, processes and transports natural gas. The Company's operations are concentrated in the Pacific Northwest, Rocky Mountains, Gulf Coast, the Eastern Seaboard, and the province of Alberta in Canada.
Williams' current stock range is determined by calculated support defined at $30.59 and by the resistance level at $34.39, which should be used by traders planning their next move.
If traders want to establish a position in Williams, they need to pay close attention at the bearish engulfing pattern, since it could mark a trend reversal in the current price action. The Bearish engulfing pattern is a leading warning sign; therefore, traders should closely monitor Williams for indications of a trend reversal. Below an Engulfing Bearish Candle Illustration:
- ManpowerGroup Named to 2013 Dow Jones Sustainability Index
- ManpowerGroup: Bridging Global Skills Gaps Hinges on Driving Youth Employability
- ManpowerGroup Solutions' Managed Service Provider TAPFIN Recognized as a Top Performer in Customer Loyalty Survey
- ManpowerGroup: Asian Companies Must Prioritize Leadership Development
- ManpowerGroup Solutions' Managed Service Provider TAPFIN Launches World's First Contingent Workforce Index
- Manpower Employment Outlook Survey Reports Improved Year-End Hiring Plans in U.S., Strongest Since Q4 2007
- Manpower Employment Outlook Survey Shows Most Global Employers to Adopt Wait-and-See Approach to Hiring for Rest of Year
- Align Flexible Workforce Models with Business Strategy to Thrive in Economic Uncertainty, ManpowerGroup Says, As Unemployment Rate Falls to 7.3%
- ManpowerGroup's Exemplary Workplace Practices Recognized for Fourth Consecutive Year
- ManpowerGroup on the Best Practices in Recruitment Process Outsourcing
Related Partner Headlines
Recent Trading Ideas
Latest Partner Headlines