W&T OFFSHORE INC (WTI)       5.73  +0.22 (+3.99%)

5.73  +0.22 (+3.99%)

US92922P1066 - Common Stock - After market: 5.73 0 (0%)

Technical Rating

Taking everything into account, WTI scores 8 out of 10 in our technical rating. Both in the recent history as in the last year, WTI has proven to be a steady performer, scoring decent points in every aspect analyzed.



Both the short term and long term trends are positive. This is a very positive sign.
Looking at the yearly performance, WTI did better than 97% of all other stocks.
WTI is part of the Oil, Gas & Consumable Fuels industry. There are 406 other stocks in this industry. WTI outperforms 75% of them.
WTI is currently trading in the upper part of its 52 week range. This is a good signal, certainly because the S&P500 Index is currently trading in the lower part of its 52 week range.
In the last month WTI has a been trading in the 4.36 - 5.97 range, which is quite wide. It is currently trading near the high of this range.
WTI has an average volume of 5492750. This is a good sign as it is always nice to have a liquid stock.
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 17.18% 35.14% 60.96% 57.85% SMA(20) SMA(50) SMA(100) SMA(200) RS 52 Wk Range ST Trend LT Trend 97.85 2.64 - 6.68
WTI Weekly chart
WTI Daily chart

Support/Resistance Analysis


3.12

5.90
We found 5 important support areas.
  • A support zone ranging from 4.88 to 4.99. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
  • A support zone ranging from 4.75 to 4.75. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
  • Support @4.15 from a trend line in the daily time frame.
  • Support @3.85 from a trend line in the weekly time frame.
  • Support @3.15 from a horizontal line in the daily time frame.
When analyzing the resistance we notice one important area.
  • A resistance zone ranging from 5.79 to 5.84. This zone is formed by a combination of multiple trend lines in multiple time frames.

Setup Analysis

Setup Rating

Besides having an excellent technical rating, WTI also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 5.79. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 4.99, a Stop Loss order could be placed below this zone.


Possible Trading Setup

The following trade can be suggested based on the decent technical rating and setup score.


ENTRYEXITDISTANCECAPITAL
5.854.870.98 (16.75%)5.97%
An entry @5.85. This is a Buy Stop order right above the resistance zone.An exit @4.87. This is a Stop Loss order right below the support zone.The trade has a worst case loss of 0.98 points, which is 16.75%.For a 1.00% total portfolio risk, you can invest 5.97% of your capital in this trade.

  • The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
  • This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
WTI Daily chart

W&T OFFSHORE INC5.73

NYSE:WTI (5/16/2022, 4:35:20 PM)+0.22 (+3.99%)

After market: 5.73 0 (0%)

Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS Sector Energy
GICS Industry Oil, Gas & Consumable Fuels
Performance
Today 3.99% 1 Week 16.23%
2 Weeks 24.3% 1 Month 17.18%
3 Month 35.14% 6 Month 60.96%
Volatility
ATR(14) 0.47 ATR(20)% 8.08%
ATR Inc -11.71% Range Today 0.42
Trend & SMA
ST Trend LT Trend
SMA(5) SMA(10)
SMA(20) SMA(50)
SMA(100) SMA(200)
Relative Strength & Ranges
CRS 97.85 Mansfield 5.21
10 Day High 5.98 10 Day Low 4.6
20 Day High 5.98 20 Day Low 4.36
52 Week High 6.68 52 Week Low 2.64
CS1 End 4.99 CR1 Start 5.79
Volume & EV
DER(3) 2.63% DER(5) 2.68%
Volume 4.49M Volume Incr -6.17%
Vol(5) 4.63M Vol(50) 5.49M

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