Williams Broke Resistance

New York, January 23rd (TradersHuddle.com) - Shares of Williams Companies, Inc. (NYSE:WMB) closed the session at $34.74 just above calculated resistance at $34.39. The stock effectively broke out and grasped the attention of momentum traders, which could eventually push the stock to a different trading range.

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.

The stock was trading in a well defined range with support at $30.59 and resistance at $34.39. Given that this range was broken, traders will be closely monitoring Williams' price action to gather clues on the future direction.

From a technical perspective, it can be expected that previous resistance becomes support, as the new range gets defined. However, given that Williams is still near the broken resistance level, traders will be focusing on the $34.39 level to see if the stock holds the breakout without rolling over.

TradersHuddle Search

Stock Search:


Site Search:

Loading

Technical Scans

Recent Trading Ideas

Latest Partner Headlines

Stock Market

Loading
Chart
o Dow Jones 17,390.52 ▲195.10 (1.13%)
o S&P 500 2,018.05 ▲23.40 (1.17%)
o NASDAQ 4,630.74 ▲64.60 (1.41%)
INDEXDJX:.DJI

Dow Jones

Company ID [INDEXDJX:.DJI] Last trade:17,390.52 Trade time:4:32PM EDT Value change:▲195.10 (1.13%)
INDEXSP:.INX

S&P 500

Company ID [INDEXSP:.INX] Last trade:2,018.05 Trade time:4:32PM EDT Value change:▲23.40 (1.17%)
INDEXNASDAQ:.IXIC

NASDAQ

Company ID [INDEXNASDAQ:.IXIC] Last trade:4,630.74 Trade time:5:15PM EDT Value change:▲64.60 (1.41%)

In The Wires

Copyright © 2013 TradersHuddle.com. All Rights Reserved.