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SmarTrend Watching for Potential Pullback in Shares of Weatherford International After 12.99% Gain

By Shiri Gupta

Weatherford International (NYSE:WFT) traded in a range yesterday that spanned from a low of $6.56 to a high of $7.09. Yesterday, the shares gained 13.0%, which took the trading range above the 3-day high of $6.01 on volume of 72.0 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that subscribers consider buying shares of Weatherford International on November 15th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $5.16. Since that recommendation, shares of Weatherford International have risen 14.1%. We continue to monitor WFT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, Weatherford International share prices have been bracketed by a low of $3.73 and a high of $14.91 and are now at $6.59, 77% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has advanced 1.2%.

Keywords: rebounders weatherford international

Ticker(s): WFT