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Weatherford International Crosses Above its 10-day MA (WFT)

By Nick Russo

Weatherford International (NYSE:WFT) shares have crossed bullishly above their 10-day moving average of $5.43 on a volume of 8.1 million shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, Weatherford International share prices have been bracketed by a low of $4.71 and a high of $14.91 and are now at $5.62, 19% above that low price. The 200-day and 50-day moving averages have moved 0.88% lower and 1.16% higher over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Weatherford International on May 5th, 2016 by issuing a Downtrend alert when the shares were trading at $6.23. Since that call, shares of Weatherford International have fallen 15.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses weatherford international

Ticker(s): WFT