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|Ex-Div Reminder for Patterson-UTI Energy Inc. (PTEN)
Tuesday, September 10, 11:42 AM ET, by Market News Video Staff
On 9/12/13, Patterson-UTI Energy Inc. (PTEN) will trade ex-dividend, for its quarterly dividend of $0.05, ...
Bullish Two Hundred Day Moving Average Cross - PTEN
Wednesday, September 11, 4:31 PM ET, by Market News Video Staff
In trading on Wednesday, shares of Patterson-UTI Energy Inc. (PTEN) crossed above their 200 day ...
Noble Corp Breaks Below 200-Day Moving Average - Notable for NE
Monday, September 23, 1:05 PM ET, by Market News Video Staff
In trading on Monday, shares of Noble Corp (NE) crossed below their 200 day moving ...
Shares of DO Now Oversold
Monday, September 23, 1:16 PM ET, by Market News Video Staff
In trading on Monday, shares of Diamond Offshore Drilling, Inc. (DO) entered into oversold territory, ...
SPN Makes Notable Cross Below Critical Moving Average
Tuesday, September 24, 1:45 PM ET, by Market News Video Staff
In trading on Tuesday, shares of Superior Energy Services, Inc. (SPN) crossed below their 200 ...
Shares of WFT Now Oversold
By Energy Stock Channel Staff, Tuesday, November 13, 12:12 PM ET
In trading on Tuesday, shares of Weatherford International, Ltd. (NYSE:WFT) entered into oversold territory, changing hands as low as $9.39 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.
In the case of Weatherford International, Ltd., the RSI reading has hit 24.8 — by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 38.8, the RSI of WTI Crude Oil is at 42.0, and the RSI of Henry Hub Natural Gas is presently 64.2.
A bullish investor could look at WFT's 24.8 reading as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side.
Looking at a chart of one year performance (below), WFT's low point in its 52 week range is $9.39 per share, with $18.33 as the 52 week high point — that compares with a last trade of $9.49. Weatherford International, Ltd. shares are currently trading off about 12.8% on the day.
According to the ETF Finder at ETF Channel, WFT makes up 4.89% of the Dynamic Oil & Gas Services Portfolio ETF (AMEX:PXJ) which is trading lower by about 0.8% on the day Tuesday.
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