Housewares retailer Williams-Sonoma ( WSM) reported earnings on Wednesday that beat estimates but revenues missed. The company announced a dividend hike and a share buyback. In addition, a sell-side analyst increased their price target. A busy couple of days. Let's look at the charts. 
In this daily bar chart of WSM, below, we can see that prices soared to the underside of the 200-day moving average line but have pulled back from their early strength. Prices are trading above the bottoming 50-day moving average line.
The trading has increased on this news and the On-Balance-Volume (OBV) line shows a rise from late February. The Moving Average Convergence Divergence (MACD) oscillator is just below the zero line and close to a new outright buy signal.
In this weekly Japanese candlestick chart of WSM, below, we can see a lower shadow on a candle in February and that may have been the clue to focus in recent weeks. Prices are still below the 40-week moving average line. The weekly MACD oscillator is narrowing but still below the zero line in sell territory.
In this daily Point and Figure chart of WSM, below, we can see a potential upside price target in the $215 area.
In this weekly Point and Figure chart of WSM, below, we see a $219 price target.
Bottom line strategy: Traders can be patient and wait for a pullack to $150 before buying WSM. Risk to $135. The $215-$220 area is our price target for now.
