W&T OFFSHORE INC (WTI) Stock Technical Analysis
USA - NYSE:WTI - US92922P1066 - Common Stock
Overall WTI gets a technical rating of 7 out of 10. Although WTI is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
WTI has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a support zone below the current price at 2.05, a Stop Loss order could be placed below this zone.
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1.63
We found 5 important support areas.
- Support @2.05 from a horizontal line in the daily time frame.
- A support zone ranging from 1.95 to 1.97. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @1.91 from a trend line in the daily time frame.
- Support @1.70 from a horizontal line in the daily time frame.
- Support @1.65 from a horizontal line in the daily time frame.
2 important resistance areas can be observed.
- A resistance zone ranging from 2.12 to 2.18. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A resistance zone ranging from 2.27 to 2.27. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for WTI is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for WTI is neutral. |
| ChartMill Relative Strength | 67.73 | NEUTRAL | WTI is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of WTI is below the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of WTI is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of WTI is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 50.55 | NEUTRAL | The RSI value for WTI is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.03 | NEGATIVE | The MACD value suggests WTI has a negative trend. |
| Stochastics (14,3) | 16.17 | OVERSOLD | The low Stochastics value suggests WTI may be oversold. |
| Average True Range in percent/ATR (20) | 7.47 | HIGH VOLATILITY | The high ATR as a percentage value for WTI suggests high volalility. |
| Average Directional Index/ADX (14) | 26.52 | POSITIVE | The high ADX value value for WTI suggests a strong trend. |
2.1
+0.04 (+1.94%)
W&T OFFSHORE INC / WTI FAQ
What is the ChartMill technical rating of W&T OFFSHORE INC (WTI) stock?
ChartMill assigns a technical rating of 7 / 10 to WTI.
Can you provide the trend direction for W&T OFFSHORE INC?
The current trend direction for W&T OFFSHORE INC (WTI) is Bullish.
What is the RSI signal for W&T OFFSHORE INC (WTI) stock?
W&T OFFSHORE INC (WTI) has an RSI value of 50.545. This indicates that the stock is currently neutral.
What is the support and resistance level for WTI stock?
W&T OFFSHORE INC (WTI) has a support level at 2.05 and a resistance level at 2.12. Check the full technical report for our detailed analysis of WTI support and resistance levels.