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Weatherford International Falls 2.10% on Heavy Volume: Watch For Potential Rebound

By Nick Russo

Weatherford International (NYSE:WFT) traded in a range yesterday that spanned from a low of $5.46 to a high of $5.72. Yesterday, the shares fell 2.1%, which took the trading range below the 3-day low of $5.63 on volume of 10.8 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

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 10.7%. 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 $5.58, 50% 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%.

Keywords: rebounders weatherford international

Ticker(s): WFT