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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.

Weatherford International share prices have moved between a 52-week high of $14.91 and a 52-week low of $3.73 and are now trading 50% above that low price at $5.58 per share. The 200-day and 50-day moving averages have moved 0.88% lower and 1.16% higher over the past week, respectively.

Keywords: rebounders weatherford international

Ticker(s): WFT