{"id":214405,"date":"2024-10-30T07:56:32","date_gmt":"2024-10-30T11:56:32","guid":{"rendered":"https:\/\/ibkrcampus.com\/campus\/?p=214405"},"modified":"2024-10-31T04:48:25","modified_gmt":"2024-10-31T08:48:25","slug":"chart-advisor-weatherford-international-plc-wfrd","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/chart-advisor-weatherford-international-plc-wfrd\/","title":{"rendered":"Chart Advisor: Weatherford International PLC &#8211; (WFRD)"},"content":{"rendered":"\n<p>From\u00a0<a href=\"https:\/\/links.investopedia.com\/u\/click?_t=36ba8fa8372241d58b3bfc06997a4332&amp;_m=35dcb2dc6b854e709fd3e00c49a8f3bc&amp;_e=xSvku0uCZPXY3MxS5SGRe5eLMB_r1U-aKOfzkRTWAs90riXox2WMQTFzn9g9oQYyZ7rPQfl9fHQ7KEjWWOYcOcASYM6WBwW2YtnsEuTSuANyRiPQOzBETWT8aMlmHhklw3mJN7OVgE3SyP5h_C_iM25tj67TMmWVmKgpPbdFrnRQo8qojke2SVoQYvqm_Zb4eCnomS3CqwGV_tW2aMEcvqiHaCWL_8pn_yd5m4E1EDwbYztS1sP7nh0lNM8NcgRoWGgHflPxszbuE-bPfwjuatFWqs5t24ZztfEs2WRrvnu9V7Pt1lkz2n8hqVBlUKUr0K1_9moA8VQAcS7CqNVPs6Cn2NrJqYpwkvI1wnnt-Ek5crnl4vjBuHE6filUEe8-ceCCCzQ6zAVSVxUu5x464ZSIeUvAd_V9waD4SRqRhZnj9MTc5Toa4xkjkeiE-EVV\" target=\"_blank\" rel=\"noreferrer noopener\">SIA Charts<\/a><\/p>\n\n\n\n<p><strong>1\/ Weatherford International PLC &#8211; (WFRD)<\/strong><\/p>\n\n\n\n<p><strong>2\/ Point and Figure Chart<\/strong><\/p>\n\n\n\n<p><strong>3\/ Candlestick Chart<\/strong><\/p>\n\n\n\n<p><em>Investopedia is partnering with CMT Association on this newsletter. \u00a0The contents of this newsletter are for informational and educational purposes only, however, and do not constitute investing advice. The guest authors, which may sell research to investors, and may trade or hold positions in securities mentioned herein do not represent the views of CMT Association or Investopedia. Please consult a financial advisor for investment recommendations and services.<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-1\">1\/<\/h2>\n\n\n\n<p><strong>Weatherford International PLC &#8211; (WFRD)<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1100\" height=\"156\" data-src=\"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/10\/ViewImagePublic-6-1-1100x156.png\" alt=\"\" class=\"wp-image-214406 lazyload\" data-srcset=\"https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/10\/ViewImagePublic-6-1-1100x156.png 1100w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/10\/ViewImagePublic-6-1-700x99.png 700w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/10\/ViewImagePublic-6-1-300x43.png 300w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/10\/ViewImagePublic-6-1-768x109.png 768w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/10\/ViewImagePublic-6-1-1536x218.png 1536w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/10\/ViewImagePublic-6-1-2048x290.png 2048w\" data-sizes=\"(max-width: 1100px) 100vw, 1100px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1100px; aspect-ratio: 1100\/156;\" \/><\/figure>\n\n\n\n<p><em>Courtesy of SIA Charts<\/em><\/p>\n\n\n\n<p>With a market capitalization of $5.79 billion, Weatherford International PLC (WFRD) is an American multinational oilfield service company, headquartered in the United States and operating in 75 countries globally, primarily in oil and natural gas-producing regions. As one of the largest players in the oilfield drilling business, WFRD serves as an excellent proxy for our ongoing review of the oil and gas sector, this time with a focus on oil services. This analysis builds upon\u00a0<a href=\"https:\/\/www.siacharts.com\/2024\/10\/28\/exxon-mobil-corp-xom-3\/?hid=c9995a974e40cc43c0e928811aa371d9a0678fd1&amp;did=15166896-20241030&amp;utm_campaign=chart-advisor_newsletter&amp;utm_source=investopedia&amp;utm_medium=email&amp;utm_content=103024\" target=\"_blank\" rel=\"noreferrer noopener\">yesterday&#8217;s review of Exxon Mobil stock<\/a>, which is showing mixed technical signals: while the price remains stable, relative strength is deteriorating beneath the surface. Similarly, Weatherford\u2014our selected proxy for the oil services sector\u2014is also trending negatively after being a standout performer for many years. In a somewhat stealthy manner, shares of WFRD have seen their relative strength turn decidedly negative, as illustrated in the attached chart. In late summer, the stock transitioned from the favored zone of the S&amp;P Mid Cap 400 Index Report to the neutral yellow zone, and has now buried itself deep within the unfavored zone. This serves as a clear indicator that it\u2019s time to seek better investment opportunities; a savvy investment advisor would recommend selling in favor of stronger positions that remain high in the favored (green) zone of the report.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-2\">2\/<\/h2>\n\n\n\n<p><strong>Point and Figure Chart<\/strong><\/p>\n\n\n\n<p>Turning to the point and figure chart, we have included an overlay of the matrix position, marked with color coding for clarity. This chart reveals that the deterioration of relative strength for WFRD began at the $115 mark, with a relative strength sell signal emerging at the double bottom of $100.22, as shares slipped into the unfavored zone of the report. Following this, shares consolidated in the $90 to $85 range for several months until a recent breakdown triggered a quintuple point and figure sell signal, sending the stock over a cliff with little to no support, potentially plummeting to the $50 to $60 range, highlighted with a green circle. For those considering holding, notable levels to watch are $68.80, $64.83, $55.33, and $51.12. On the upside, shares will likely face significant resistance at the breakdown point of $85.54 and at the psychological level of $100, indicated by the light pink box. This analysis occurs against a backdrop of a 0 SMAX score, which represents SIA&#8217;s secondary reading of relative strength compared to all other asset classes beyond the stocks included in the S&amp;P Mid Cap 400 Report.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img decoding=\"async\" width=\"1100\" height=\"1300\" data-src=\"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/10\/ViewImagePublic-7-1100x1300.png\" alt=\"\" class=\"wp-image-214407 lazyload\" style=\"--smush-placeholder-width: 1100px; aspect-ratio: 1100\/1300;width:950px;height:auto\" data-srcset=\"https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/10\/ViewImagePublic-7-1100x1300.png 1100w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/10\/ViewImagePublic-7-700x827.png 700w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/10\/ViewImagePublic-7-300x355.png 300w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/10\/ViewImagePublic-7-768x908.png 768w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/10\/ViewImagePublic-7.png 1232w\" data-sizes=\"(max-width: 1100px) 100vw, 1100px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" \/><\/figure>\n\n\n\n<p><em>Courtesy of SIA Charts<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-3\">3\/<\/h2>\n\n\n\n<p><strong>Candlestick Chart<\/strong><\/p>\n\n\n\n<p>As a secondary vector, we have added a comparison candlestick chart (scaled weekly) of Weatherford shares against the chart of crude oil. Here, we observe that WFRD began to outperform back in October 2022, as it moved above the 50-week moving average. However, this trend has now reversed, and the comparison indicates that WFRD is currently underperforming relative to crude oil as it trades below the 50-week moving average. This is concerning, particularly given the weak crude oil prices, as it suggests that this oil services proxy is in an even weaker position\u2014a combination that is indeed unfavorable for investors.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img decoding=\"async\" width=\"1100\" height=\"605\" data-src=\"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/10\/ViewImagePublic-8-1100x605.png\" alt=\"\" class=\"wp-image-214408 lazyload\" style=\"--smush-placeholder-width: 1100px; aspect-ratio: 1100\/605;width:950px;height:auto\" data-srcset=\"https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/10\/ViewImagePublic-8-1100x605.png 1100w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/10\/ViewImagePublic-8-700x385.png 700w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/10\/ViewImagePublic-8-300x165.png 300w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/10\/ViewImagePublic-8-768x422.png 768w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/10\/ViewImagePublic-8-1536x845.png 1536w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/10\/ViewImagePublic-8.png 1653w\" data-sizes=\"(max-width: 1100px) 100vw, 1100px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" \/><\/figure>\n\n\n\n<p><em>Courtesy of SIA Charts<\/em><\/p>\n\n\n\n<p>&#8212; <\/p>\n\n\n\n<p>Originally posted on 30th October 2024<\/p>\n","protected":false},"excerpt":{"rendered":"<p>From\u00a0SIA Charts 1\/ Weatherford International PLC &#8211; (WFRD) 2\/ Point and Figure Chart 3\/ Candlestick Chart Investopedia is partnering with CMT Association on this newsletter. \u00a0The contents of this newsletter are for informational and educational purposes only, however, and do not constitute investing advice. The guest authors, which may sell research to investors, and may [&hellip;]<\/p>\n","protected":false},"author":186,"featured_media":214409,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":true,"footnotes":""},"categories":[18,6,8,9,22,23,26,3],"tags":[1056,778,17946],"contributors-categories":[13686],"class_list":{"0":"post-214405","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-macro","8":"category-north-america","9":"category-region","10":"category-securities","11":"category-stocks","12":"category-technical-analysis","13":"category-text-articles","14":"category-traders-insight","15":"tag-crude-oil","16":"tag-nasdaq","17":"tag-wfrd","18":"contributors-categories-investopedia"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Chart Advisor: Weatherford International PLC &#8211; (WFRD)<\/title>\n<meta name=\"description\" content=\"As one of the largest players in the oilfield drilling business, WFRD serves as an excellent proxy for our ongoing review of the oil and gas sector,...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/posts\/214405\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chart Advisor: Weatherford International PLC - (WFRD) | IBKR Campus US\" \/>\n<meta property=\"og:description\" content=\"As one of the largest players in the oilfield drilling business, WFRD serves as an excellent proxy for our ongoing review of the oil and gas sector, this time with a focus on oil services. This analysis builds upon\u00a0yesterday&#039;s review of Exxon Mobil stock, which is showing mixed technical signals: while the price remains stable, relative strength is deteriorating beneath the surface.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/chart-advisor-weatherford-international-plc-wfrd\/\" \/>\n<meta property=\"og:site_name\" content=\"IBKR Campus US\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-30T11:56:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-10-31T08:48:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/10\/ViewImagePublic-6-2.png\" \/>\n\t<meta property=\"og:image:width\" content=\"2117\" \/>\n\t<meta property=\"og:image:height\" content=\"300\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Contributor Author\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Contributor Author\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\n\t    \"@context\": \"https:\\\/\\\/schema.org\",\n\t    \"@graph\": [\n\t        {\n\t            \"@type\": \"NewsArticle\",\n\t            \"@id\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/chart-advisor-weatherford-international-plc-wfrd\\\/#article\",\n\t            \"isPartOf\": {\n\t                \"@id\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/chart-advisor-weatherford-international-plc-wfrd\\\/\"\n\t            },\n\t            \"author\": {\n\t                \"name\": \"Contributor Author\",\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/person\\\/e823e46b42ca381080387e794318a485\"\n\t            },\n\t            \"headline\": \"Chart Advisor: Weatherford International PLC &#8211; 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