Alber said that last year, the holidays were all but forgotten, but this year people are anxious to get back to decorating and gift-giving and socializing. They want to see products in store but still have the convenience of shopping online, which is why Williams-Sonoma offers both.
Williams-Sonoma is taking its online shopping experience to a new level with features like augmented reality. Alber noted that the acquisition of Outward four years ago allows it to digitally render all of its products into photos of a home so customers can see exactly what the products will look like.
Alber added that because Williams-Sonoma designs and manufactures most of its products, it's close to the production process and has made strides toward sustainability.
Let's check out the charts again.
When we looked at WSM on Nov. 12 we wrote that, "Traders could go long WSM in the $210-$200 area risking to $189. The $268 area is our first price target."
In the daily bar chart of WSM, below, we can see that the shares have continued to rally while staying above our stop recommendation. WSM is trading above the rising 50-day and 200-day moving averages.
The On-Balance-Volume (OBV) line has an upward tilt and tells us that buyers of WSM are being more aggressive. The Moving Average Convergence Divergence (MACD) oscillator is in a bullish alignment above the zero line.
In the weekly Japanese candlestick chart of WSM, below, we see a mostly positive picture. Prices are in an uptrend above the rising 40-week moving average line. The most recent candle gives a little pause as the small real body and the upper and lower shadows tell us that the bulls and bears are in a balance which could subsequently tilt up or down (we need to watch for confirmation this week).
The weekly OBV line is bullish and so is the MACD oscillator.
In this daily Point and Figure chart of WSM, below, we can see a potential price target of $269.
In this weekly Point and Figure chart of WSM, below, the $269 daily price target is "confirmed."
Bottom-line strategy: Traders should be long in the $210 area. Raise stops to $195 from $189. Our price target is $269.