W&T OFFSHORE INC (WTI)       7.51  -0.23 (-2.97%)

7.51  -0.23 (-2.97%)

US92922P1066 - Common Stock - After market: 7.49 -0.02 (-0.27%)

Technical Rating

7

Overall WTI gets a technical rating of 7 out of 10. In the last year, WTI was an average performer in the market. There are positive signs in the very recent evolution, but the medium term picture is still mixed.



The short term trend is positive, while the long term trend is neutral. So this is evolving in the right direction.
WTI is one of the better performing stocks in the Oil, Gas & Consumable Fuels industry, it outperforms 95% of 378 stocks in the same industry.
WTI is currently trading in the upper part of its 52 week range, while the S&P500 Index is trading in the lower part of its yearly range. So WTI is doing quite good in this market.
In the last month WTI has a been trading in the 5.02 - 7.99 range, which is quite wide. It is currently trading near the high of this range.
WTI has an average volume of 4206290 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
When comparing the yearly performance of all stocks, we notice that WTI is one of the better performing stocks in the market, outperforming 99% of all stocks. However, this relatively good performance is mostly due to a recent big move.
Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.

Statistics

1 Month 3 Months 6 Months 12 Months 14.13% 86.82% 75.47% 72.25% SMA(20) SMA(50) SMA(100) SMA(200) RS 52 Wk Range ST Trend LT Trend 99.43 2.972 - 9.01
WTI Weekly chart
WTI Daily chart

Support/Resistance Analysis


3.78

7.83
When analyzing the support we can see 4 important areas.
  • Support @5.32 from a trend line in the daily time frame.
  • Support @4.14 from a trend line in the weekly time frame.
  • Support @3.97 from a trend line in the daily time frame.
  • Support @3.82 from a horizontal line in the daily time frame.
We found 1 important resistance area.
  • Resistance @7.75 from a horizontal line in the daily time frame.

Setup Analysis

Setup Rating

3

Although WTI has an excellent technical rating, it does not offer a high quality setup at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.


WTI Daily chart

W&T OFFSHORE INC7.51

NYSE:WTI (10/7/2022, 4:37:55 PM)-0.23 (-2.97%)

After market: 7.49 -0.02 (-0.27%)

Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS Sector Energy
GICS Industry Oil, Gas & Consumable Fuels
Performance
Today -2.97% 1 Week 28.16%
2 Weeks 44.7% 1 Month 14.13%
3 Month 86.82% 6 Month 75.47%
Volatility
ATR(14) 0.5 ATR(20)% 6.74%
ATR Inc 1.85% Range Today 0.52
Trend & SMA
ST Trend LT Trend
SMA(5) SMA(10)
SMA(20) SMA(50)
SMA(100) SMA(200)
Relative Strength & Ranges
CRS 99.43 Mansfield 7.67
10 Day High 7.99 10 Day Low 5.02
20 Day High 7.99 20 Day Low 5.02
52 Week High 9.01 52 Week Low 2.97
CS1 End 5.32 CR1 Start 7.75
Volume & EV
DER(3) -2.32% DER(5) 0.73%
Volume 4.20M Volume Incr -5.9%
Vol(5) 3.87M Vol(50) 4.21M

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