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Weatherford International plc Message Board

  • les_artman43 les_artman43 Mar 20, 2013 10:28 AM Flag

    I don'tg get it!

    I don't get it..........The stock market goes up and WFT goes down. The market goes down and WFT goes up? Go figure?

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • There's 2 events going on. The first one is that the stock just began consolidation.... If you have a long term horizon, there's an inverted head and shoulders on the one year chart.... That means that over the long term, the sentiment is bullish. Now, the consolidation is ocurring between $11.00-$11:20 (Support) and $12.50-$13.00 (Resistance).

      Depending on wheather you are an investor or trader this may or may not help you.... Oh, and forget about the DJIA or the SPY 500...WFT does not belong to any of those two indices and does not react too much to how the general market behaves. WFT is an oil and gas service company and will react more to news about or how the Oil futures and/or energy market behave.

      So, buy @ or around $11:20 (place a stop loss @ $10.50) and sell @ or aroud $12.30 (With a stop loss @12.60). Do not initiate new positions if WFT keeps going down under $10:50 and/or above $12.60 until it breaks support and/or resistance. Use trailing limit/stop loss orders just in case.

    • stock mkt goes up weatherturd goes down. stock mkt goes down weatherturd goes down.

    • just sold 10k for 11.26. take a lost.

 
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