SmarTrend Detects Continued Selling Pressure in Shares of W&T Offshore (WTI)
SmarTrend identified a Downtrend for W&T Offshore (NYSE: WTI) on January 21, 2010 at $10.24. In approximately 2 months, W&T Offshore has returned 8.9% as of Thursday's closing price of $9.33.
W&T Offshore is currently below its 50-day moving average of $10.21 and below its 200-day moving average of $10.60. Look for these moving averages to decline to confirm the company's downward momentum.
SmarTrend will continue to scan these moving averages and a number of other proprietary indicators for any changes in momentum for shares of W&T Offshore.
Write to Chip Brian at cbrian@tradethetrend.com
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