Here’s your trade on Williams Company ($WMB) – July 18, 2024
Dan Fitzpatrick here at StockMarketMentor.com. I hope you are doing well, the market is a little dicey here, but one sector that’s starting to work is energy.
You can see the XOP ( NYSEARCA: XOP ) rising above the 50. You see the XLE ( NYSEARCA: XLE ), it did that a while ago. One stock that I added to our Active Trade List today was Williams Companies ( NYSE: WMB ). This had been running right along the 20-day moving average.
You could see these Bollinger Bands squeezing just a little bit. And so what I did was look at this high here and think, okay, if this stock breaks out above that high, then I want to be long this stock. Yesterday’s volume was really good here on this little stabilization day.
Today, I suspect that this is probably going to close, maybe average volume, something like that, but I like the way this is moving. It is in a solid uptrend, as opposed to a lot of stocks that are in the “hope” uptrend.
Meaning, they used to be in an uptrend, and everybody’s hooked on them. They want them to continue in an uptrend but they’re not. And so they wind up tilting their computer so that their screen is tilted, and then they can still visualize an uptrend. Don’t do that, trade good trades, not any trade.
I like the way this is trading. I would keep a stop down at 42.25. You can see today’s intraday lows, 42.35. And the point is, if this stock were to reverse this entire move, then this is a fake out, and you don’t want to be long.
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