W and T Offshore Inc (WTI)

[Benztrader]

W&T Offshore, Inc.’s Trend Up, Especially After Forming a Bullish Inverse H&S Pattern
by Franklin Staff — May 19, 2016


The stock of W&T Offshore, Inc. (WTI) formed H&SI with $3.49 price target or 73.00% above the current $2.02 share price. The 7 months Head & Shoulders Inverse reveals low risk for the $150.23M company. This trade was featured by Faxor.com on May, 20. If the $3.49 target price is reached, the company’s valuation will be $109.67M more. Inverse Head-and-shoulders are some of the best chart patterns to trade. These formations work as in bear as in bull markets and many researchers states that they have very low failure rates. Despite the high pullback rate, these trading patterns are usually good places to trade based on their risk-reward profile. Industry experts’s backtests show that 55% of these patterns reach their targets. The stock decreased 3.35% or $0.07 on May 19, hitting $2.02. About 1.65M shares traded hands. W&T Offshore, Inc. (NYSE:WTI) has declined 36.28% since October 13, 2015 and is downtrending. It has underperformed by 38.47% the S&P500.