Williams-Sonoma pierces main downward trend line - Analysis - 08-06-2023

Williams-Sonoma's stock (WSM) kept rising in the intraday levels, managing to pierce the main downward trend line in the medium term, while trespassing the resistance of the 50-day SMA, managing to shaker off negative pressure from the 50-day SMA, and marking a fresh profit of 4.61% in the last session, or 5.71 points, settling thereafter at 129.59, while benefiting from positive signals from the RSI.

Therefore we expect more gains for the stock, targeting the first resistance at 146.25, provided the support of 116.20 holds on.

Expected trend for today: Bullish