Williams-Sonoma’s (NYSE: WSM) stock broke out of a trading range earlier this year to confirm its uptrend remains intact. The market reconfirmed the breakout following the Q2 earnings release, signaling the next leg of the uptrend is at hand. How high the stock gets depends on several factors, including macroeconomic conditions, which are central to the opportunity presented.
WSM sold off after the Q2 release because CEO Laura Alber noted that macroeconomic headwinds from housing and tariffs will linger. The stock price confirmed support at a critical level and could continue to rally, as the Q2 release showed the company’s strategy still works.
