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Weatherford Inte Rises 2.86% on Heavy Volume: Watch For Potential Pullback

By Nick Russo

Weatherford Inte (NYSE:WFT) traded in a range yesterday that spanned from a low of $4.19 to a high of $4.38. Yesterday, the shares gained 2.9%, which took the trading range above the 3-day high of $4.21 on volume of 8.8 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Weatherford Inte have traded between a low of $3.39 and a high of $7.09 and are now at $4.30, which is 27% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.2% while the 200-day MA has slid 0.9%.

SmarTrend recommended that its subscribers protect gains by selling shares of Weatherford Inte on May 4th, 2017 by issuing a Downtrend alert when the shares were trading at $5.02. Since that call, shares of Weatherford Inte have fallen 16.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders weatherford inte

Ticker(s): WFT