Water-Logged And Getting Wetter Stock Of The Day: Weatherford International (WFT)

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified Weatherford International ( WFT) as a "water-logged and getting wetter" (weak stocks crossing below support with today's range greater than 200%) candidate. In addition to specific proprietary factors, Trade-Ideas identified Weatherford International as such a stock due to the following factors:

  • WFT has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $87.5 million.
  • WFT has traded 2.4 million shares today.
  • WFT traded in a range 209.3% of the normal price range with a price range of $1.25.
  • WFT traded below its daily resistance level (quality: 157 days, meaning that the stock is crossing a resistance level set by the last 157 calendar days. The resistance price is defined by the Price - $0.01 at the time of the signal).

Stocks matching the 'Water-Logged and Getting Wetter' criteria are worthwhile stocks to watch for a variety of factors including historical back testing and volatility. Trade-Ideas targets these opportunities because the stock is exhibiting an unusual behavior while displaying negative price action. In this case, the stock crossed an important inflection point; namely, "support" while at the same time the range of the stock's movement in price is twice its normal size. This large range foreshadows a possible continuation as the stock moves lower.

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More details on WFT:

Weatherford International Ltd. provides equipment and services used in the drilling, evaluation, completion, production, and intervention of oil and natural gas wells worldwide.

The average volume for Weatherford International has been 8.6 million shares per day over the past 30 days. Weatherford International has a market cap of $17.2 billion and is part of the basic materials sector and energy industry. The stock has a beta of 2.37 and a short float of 2.1% with 2.69 days to cover. Shares are up 47.1% year-to-date as of the close of trading on Wednesday.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

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