This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration. Need a new registration confirmation email? Click here
Another stock that insiders are in love with here is
Weatherford International (
WFT), a global provider of products and services that span the drilling, evaluation, completion, production and intervention cycles of oil and natural gas wells. Insiders are buying this stock into big time strength, since shares are up 41% so far in 2013.
Weatherford International has a market cap of $12.15 billion. This stock trades at a reasonable valuation, with a forward price-to-earnings of 12.35. Its estimated growth rate for this year is 43.1%, and for next year it's pegged at 55.4%.
>>5 Stocks Poised for Breakouts
A director just
bought 78,000 shares, or about $1.18 million worth of stock, at $15.36 per share.
From a technical perspective, WFT is currently trending above both its 50-day and 200-day moving averages, which is bullish. This stock has been uptrending strong for the last six months, with shares soaring higher from its low of $11.66 to its recent high of $16 a share. During that uptrend, shares of WFT have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of WFT within range of triggering a near-term breakout trade.
If you're in the bull camp on WFT, then look for long-biased trades as long as this stock is trending above is 50-day at $14.89, and then once it breaks out above its 52-week high at $16 a share with high volume. Look for a sustained move or close above that level with volume that hits near or above its three-month average action of 6.65 million shares. If we get that move soon, then WFT will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that move are $18 to $22 a share.