InTheMoneyStocks Pro Traders Market Analysis

[ITMS]

Stock Chart Sell Signal!

Shares of Williams-Sonoma (WSM) are soaring today on the back of solid earnings. The do-it-yourself cycle of the quarantine is playing out but based on the chart will not last.

There is a strong stock chart sell signal on Williams-Sonoma at $87.40. The current price is approaching quickly. This is a classic former all-time high from 2015 that is now a major double top when prices hits it.

In addition, the insanity of the move on Williams-Sonoma is clear when looking at the chart. Williams-Sonoma has rallied from $26 in March 2020, to almost $86 today. That is absolutely insane. Every technical metric slammed into extreme overbought signals today. The sell signal is strong and will cause Williams-Sonoma to collapse back to close to $75 in the coming days/week or two. Watch the chart closely and trade it wisely.


See the chart here:
https://inthemoneystocks.com/stock-chart-sell-signal-williams-sonoma-wsm/


Gareth Soloway
Chief Market Strategist
InTheMoneyStocks