SmarTrend Watching for Potential Rebound in Shares of Weatherford International After 25.60% Loss
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.
Weatherford International share prices have moved between a 52-week high of $14.91 and a 52-week low of $4.95 and are now trading 14% above that low price at $5.66 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.3% 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: rebounders weatherford international