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| WSM - William-Sonoma Inc. | Week Ended: 5/5/01 |
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| Price |
31.64 |
P/E Ratio |
27.38 |
52 Week High |
45.38 |
| Last Week |
+ 1.42 |
Earnings Date |
5/15/01 |
52 Week Low |
15.50 |
| Picked At |
31.10 |
Date Picked |
5/1/01 |
Sector |
Services |
| Activity |
| Current |
31.64 |
Open |
30.86 |
Change |
-0.22 |
| Low |
30.30 |
High |
31.74 |
Volume |
355,300 |
ZACKS | NEWS | PROFILE | HISTORICAL PRICES | OPTIONS | D-CHART |
| Company Description WSM is a national specialty retailer of fine qualitycooking and serving equipment, home furnishings and other home and garden accessories, marketed through 370 retail stores and 5 mail order catalogs. For the FY ended 1/28/01,net sales rose 25% to $1.83B. Net income fell 17% to $56.8M. Results reflect new store openings and an increase in comparable store sales, offset by the absence of a $4M gain on sale of assets.
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| Play Description May 1, 2001
Specialty home retailer Williams Sonoma continued to build on yesterday’s breakaway gap from $29.00. What’s more, today‘s move comes on volume nearly double the three-month average daily volume of 551,000. WSM has been the beneficiary of a resurging retail sector. Over the past week, the S&P Retail Index (RLX) has surged ahead 7.2 percent. At this point, WSM has made room to run higher. The stock has taken out resistance at $30 along with its upper Bollinger band at $30.56. With these resistance levels out of the way, it appears to be smooth sailing until $40. As for support, traders can look for $30 to provide the first level, followed by the 10-dma at $28.08. Traders considering a position in WSM should look for strong volume, 250,000 shares or more traded by noon EDT, on a move through today’s intra-day high of $31.40 or a bounce off support at $30.00 before placing their trades. We are placing our stop-loss just at $27.75, which is just below the 200-dma.
Picked on May 1st @ $31.10
Change since picked 0.00
Stop Loss @ $27.75
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| Update May 3, 2001
For most of the Thursday, we thought that WSM’s winning streak would end at six. But then in the final few minutes of trading, WSM got its act together to extend the winning streak to seven. WSM appears to be running into its earnings release on May 15, which means it could have room to run higher. To that end, we think that WSM’s technical indicators look favorable. The stock has taken out resistance at $30, so it appears to have a clear shot to $40. On the downside, WSM has a first level of support at $30, followed by the 10-dma at $29.17. Traders considering a position in WSM should look for strong volume, 250,000 shares or more traded by noon EDT, on a move through today’s intra-day high of $32.14 or a bounce off support at $30.00 before placing their trades.
Picked on May 1st @ $31.10
Change since picked +0.76
Stop Loss @ $27.75
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