Williams near Key Support Area

Published on Friday, 27 August 2010 07:56 Written by Christopher Lynn

New York, August 27th (TradersHuddle.com) - Shares of Williams Companies, Inc. (NYSE:WMB) are trading very close to calculated support at $17.72 with current price action closing at just $18.16 places the stock price near levels where traders will start paying attention.

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 defined by current calculated support defined at $17.72 and by the resistance level at $21.00, which should be used by traders planning their trades.

Traders wanting to establish a position should place close attention to Williams' price action, and establish a position as close to support as possible, but only after buying materializes. Traders should understand that the resistance point at $21.00 might limit their upside, however if the stock breaks resistance, it could be a good point to add to the position.