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Downgrade Alert for Weatherford International (WFT)

By Amy Schwartz

Weatherford International (NYSE:WFT) was downgraded from Buy to Hold at Societe Generale today. The stock closed yesterday at $5.44 on volume of 26.1 million shares, above average daily volume of 14.4 million.

Weatherford International Ltd. provides equipment and services used for the drilling, completion, and production of oil and natural gas wells. The Company offers drilling and intervention services, completion systems, artificial lift systems, and compression services. Weatherford conducts operations in substantially all of the oil and natural gas producing regions in the world.

Weatherford International (NYSE:WFT) has potential upside of 127.1% based on a current price of $5.43 and analysts' consensus price target of $12.33. The stock should find initial resistance at its 50-day moving average (MA) of $7.31 and further resistance at its 200-day MA of $8.60.

In the past 52 weeks, Weatherford International share prices have been bracketed by a low of $4.95 and a high of $14.91 and closed yesterday at $5.43, 10% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has advanced 1.2%.

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

Keywords: analyst upgrades/downgrades weatherford international

Ticker(s): WFT