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WMB - Broken ascending triangle pattern
Casey Murphy - January 25, 2007


Williams Companies Inc- WMB

January 24, 2007

Last Trade

$27.15

Volume

2,803,600

52-Week High

$28.32

52-Week Low

$19.35

Commentary:
For today's chart we've chosen to take a look at WMB because it has recently broken out of an ascending triangle pattern. The move back toward the trendline shown below, also known as a throwback, is a good example of the type of move that many traders expect to see following a break out of a triangle pattern. We've also included the MACD indicator, which has recently crossed above its signal line. This bullish crossover will be used by traders to confirm the strength of the nearby support ($25.50) and will also be used to suggest that the upward momentum is likely to continue.

 



Happy Trading,
Casey Murphy,
Senior Analyst, ChartAdvisor


 Previous Chart Alerts:    OIL   QQQQ   OXY   QQQQ   INTU   QQQQ   INTL   EBAY   BJ   ECA   GYI   GM   WMB   AMZN   PCAR   WMT  


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