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Weatherford International Set to Possibly Pullback After Yesterday's Rally of 3.66%

By James Quinn

Weatherford International (NYSE:WFT) traded in a range yesterday that spanned from a low of $5.05 to a high of $5.29. Yesterday, the shares gained 3.7%, which took the trading range above the 3-day high of $5.27 on volume of 8.3 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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 40% above that low price at $5.24 per share. Over the past week, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has advanced 1.2%.

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

Ticker(s): WFT