WMB stock weakens
Williams Companies stock is trading at $21.80, almost 13% and 19% below its 50-day and 200-day moving averages of $24.90 and $26.90, respectively. The stock’s weakness is emphasized by its large discount to both moving averages, which are expected to act as short-term resistance for WMB stock.
Relative strength index
Williams Companies stock is presently trading deep in the “oversold” zone, with an RSI (relative strength index) score of 14. RSI scores below 30 imply that a stock is oversold and its direction could reverse. WMB’s recent weakness has pushed it close to its November 2016 levels.
A company’s short interest indicates its number of shares sold short and not yet squared off. WMB’s short interest was 18% on November 30, with 41.1 million total shorted shares. On November 15, the stock had 34.8 million shorted shares. This higher short interest could mean more investors expect the stock’s price to fall.