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Volume-Driven Gains May Signal a New Meaningful Leg Up - Thursday, November 4, 2021
Williams Sonoma Inc (WSM +$3.50 or +1.72% to $207.38) posted a 6th consecutive gain today. It was highlighted in yellow in the 11/03/21 mid-day report (read here) with pivot point cited based on its 9/27/21 high. It cleared a "double bottom" base as it gapped up and rallied to hit a new 52-week high with +61% above average volume triggering a technical buy signal. It recently found support near its 50-day moving average (DMA) line ($183).
WSM has an Earnings Per Share Rating of 98. It was noted in the 9/30/21 mid-day report - "Reported Jul '21 quarterly earnings +80% on +31% sales revenues versus the year ago period, its 5th consecutive strong quarterly comparison. Annual earnings history has been strong."
Its small supply of only 74.4 million shares outstanding (S criteria) can contribute to greater price volatility in the event of institutional buying or selling. The number of top-rated funds owning its shares rose from 874 in Dec '20 to 973 in Sep '21, a reassuring sign concerning the I criteria. Its current Up/Down Volume Ratio of 1.3 is an unbiased indication its shares have been under accumulation over the past 50 days.
It has a Timeliness Rating of A and a Sponsorship Rating of B. The RETAIL - Home Furnishings industry group is currently ranked 175th on the 197 Industry Groups List, however there has bee leadership (L criteria) being shown by at least one other company in the group.
