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Bearish Moving Average Cross by Weatherford International (WFT)

By David Diaz

Today, shares of Weatherford International (NYSE:WFT) have crossed bearishly below their 10-day moving average of $8.06 on a volume of 3.4 million shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, Weatherford International has traded in a range of $4.95 to $14.91 and is now at $7.89, 59% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.4% while the 200-day MA has slid 0.6%.

SmarTrend is tracking the current trend status for Weatherford International and will alert subscribers who have WFT in their portfolio or watchlist when shares have changed trend direction.

Keywords: moving crosses weatherford international

Ticker(s): WFT