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Watch for W & T Offshore Inc to Potentially Pullback After Gaining 4.13% Yesterday

By Nick Russo

W & T Offshore Inc (:WTI) traded in a range yesterday that spanned from a low of $5.83 to a high of $6.06. Yesterday, the shares gained 4.1%, which took the trading range above the 3-day high of $5.67 on volume of 1.4 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, W & T Offshore Inc has traded in a range of $4.36 to $5.99 and is now at $5.99, 37% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 0.6%.

SmarTrend is monitoring the recent change of momentum in W & T Offshore Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of W & T Offshore Inc in search of a potential trend change.

Keywords: rebounders :wti w & t offshore inc

Ticker(s): WTI