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Williams Companies, Inc. (The) (WMB) Just Reclaimed the 200-Day Moving Average
Williams Companies, Inc. (The) (WMB - Free Report) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, WMB crossed above the 200-day moving average, suggesting a long-term bullish trend.
A useful tool for traders and analysts, the 200-day simple moving average helps determine long-term market trends for stocks, commodities, indexes, and other financial instruments. It moves higher or lower in conjunction with longer-term price performance, and serves as a support or resistance level.
WMB could be on the verge of another rally after moving 9.8% higher over the last four weeks. Plus, the company is currently a Zacks Rank #3 (Hold) stock.
Once investors consider WMB's positive earnings estimate revisions, the bullish case only solidifies. No estimate has gone lower in the past two months for the current fiscal year, compared to 5 higher, and the consensus estimate has increased as well.
Investors should think about putting WMB on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.