Energy was the top performing sector in 2021. Will it do so again this year? In this recorded webinar we consider the XLE, some of its constituent stocks, and in particular, Williams Companies (WMB) which despite having less than a 5% weight in the index outperformed the sector with the stock rising even while the sector was in a bear trend. Volume price analysis 101 on the weekly chart reveals the point at which the stock reversed higher when WMB was at less than $10 and trading today at $29.36 – hint the single candle with a deep lower wick on heavy volume which when taken with the subsequent up candle on high volume gives us a very impressive hammer. Note also the gap down candle on heavy volume which could be taken as the first sign of stopping volume. The ATH for this stock was over $60 back in 2015 so it has been on quite a journey. Now on my watchlist for analysis in the coming weeks.
Resources used in the webinar include my own indicators available from Quantumtrading.
By Anna Coulling
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