Trade Idea for Williams Companies Inc. (NYSE)

Williams Companies Inc. (NYSE)

#WMB

    Bears are testing the support level at 58.50. The descending wave structure is truncated. The Awesome Oscillator shows bullish divergence, while the Stochastic Oscillator signals oversold conditions.

Trading Idea:

Buy upon the formation of an ascending wave structure, where wave (A) breaks through the trend channel of the truncated descending structure.

Stop Loss: 58.50.

Target levels: 61.60; 63.70.