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A Look at Williams Companies’ Technical Indicators

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Apr. 6 2018, Updated 1:25 p.m. ET

Williams Companies’ moving averages

Williams Companies (WMB) is trading below its short-term (50-day) and long-term (200-day) moving averages due to its recent weakness. Its short-term moving average recently fell below its 200-day moving average, which indicates a bearish sentiment in the stock. 

WMB was trading 12.1% below its 50-day SMA (simple moving average) and 16.0% below its 200-day SMA on April 5, 2018. Among WMB’s peers, Energy Transfer Equity (ETE) and Enterprise Products Partners (EPD) were trading 15.3% and 6.5%, respectively, below their long-term simple moving averages. This trend indicates a general negative sentiment in the midstream sector. si

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Several factors could push Williams Companies above its long-term moving average, resulting in a bullish viewpoint. These factors include positive 1Q18 earnings surprises, a recovery in Northeast drilling activity, the announcement of new projects, FERC[1. Federal Energy Regulatory Commission] approval on Rivervale South to market, and the Gateway projects. Until then, WMB’s stock performance could remain sluggish amid the rise in global war tensions and the uncertainty surrounding the FERC tax ruling.

Short interest in Williams Companies

Short interest in Williams Companies was 22.7 million shares on March 30, 2018. Short interest in WMB as a percentage of its float ratio of ~2.8% is higher than its 30-day average of 2.4%. Moreover, it is higher than the one-year average of ~1.8%, which indicates a bullish outlook on WMB stock. An increase in short interest means an increase in open short positions and the expectation by market participants for the stock to fall.

In the next article, we’ll look into Williams Companies’ seven-day price forecast.

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