Last Weeks Bullish Rating Pushes Williams Companies (WMB) To New Highs

Posted: Monday, November 16, 2009 1:36 PM EDT

Williams Companies (NYSE: WMB) hit a new 52-Week high of $20.64 so far today. Currently the stock is up $0.47 (2.34%) to $20.52 on 2,710,121 shares traded. Today's high is up $11.00 from a 52-Week Low of $9.52. Williams Companies stock has been showing support around $19.34 and resistance in the $20.60 range. Technical indicators for the stock are bullish and S&P gives WMB a positive 4 STARS (out of 5) buy ranking. Williams Co. traded up to set a new 52 week high today. The stock has been moving higher since Morgan Stanley with an Overweight rating last week. If you are looking for a hedged play on WMB the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 17.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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