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SmarTrend Watching for Potential Pullback in Shares of Weatherford International After 2.34% Gain
Jan 28, 2013 (SmarTrend(R) News Watch via COMTEX) --
Weatherford International (NYSE:WFT) traded in a range yesterday that spanned from a low of $12.83 to a high of $13.16. Yesterday, the shares gained 2.3%, which took the trading range above the 3-day high of $12.92 on volume of 9.8 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
SmarTrend recommended that subscribers consider buying shares of Weatherford International on December 19th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $11.21. Since that recommendation, shares of Weatherford International have risen 14.4%. 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 $8.84 and a high of $18.33 and are now at $13.12, 48% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.4% while the 200-day MA has slid 0.3%.
Write to Chip Brian at cbrian@mysmartrend.com
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SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com
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