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SmarTrend Watching for Potential Rebound in Shares of Weatherford International After 25.60% Loss

By Shiri Gupta

Weatherford International (NYSE:WFT) traded in a range yesterday that spanned from a low of $5.55 to a high of $6.91. Yesterday, the shares fell 25.6%, which took the trading range below the 3-day low of $7.35 on volume of 34.2 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

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.

In the past 52 weeks, Weatherford International share prices have been bracketed by a low of $4.95 and a high of $14.91 and are now at $5.66, 14% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has advanced 1.3%.

Keywords: rebounders weatherford international

Ticker(s): WFT