Weatherford International (WFT) NewsBite - Dropping Oil Futures Pull Down Weatherford
Posted on January 15, 2008 at 10:03 AM EST
Weatherford International Ltd. (WFT) opened at 69.96. So far today, the stock has hit a low of 66.96 and a high of 69.98. WFT is now trading at 66.84, down 4.14 (-5.92%). The stock hit its 52 week high of 72.73 in January and set its 52 week low of 37.55 in January. WFT has been rising for the past year. Weatherford International shares have been slipping today with most other energy producers, hurt by lower crude oil futures. Technical indicators for the stock are neutral and improving while S&P gives WFT a neutral 3 STARS (out of 5) hold rating. If you’re looking for a hedged play on this stock, consider a February bear-call credit spread above the $80 range. WFT stock could rise up to 19.7% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]