Market Overview

Whiting Petroleum Rally Pops And Drops After Upgrade

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Whiting Petroleum Corp (NYSE: WLL) shares are trading higher by $0.68 (5 percent) at $12.90 in Thursday's session. The issue has now rallied over $4 from Tuesday's close of $9.38. Before the open, the issue was the recipient of an upgrade at Stifel from Hold to Buy.

After a higher open, it continued in that direction before finding sellers at $13.39. That high is just shy of its June 9 high of $13.54. Since reversing course, it has fallen under $14, but so far has found support ahead of the top of Wednesday's range ($12.39) as the current low stands at $12.56.

If the issue can close above $13, it will be the first time since June 9, when it ended that session at $13.35, which coincidentally is $0.04 from the current intra-day high.

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