(WFRD) Pivots Trading Plans and Risk Controls

December 28, 2024, 14:42 pm ET, BY Christie- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for WFRD

• NONE. Details

There is no current Support Plan to trigger a buy of this stock at this time. This usually means that there are no clear support levels at this time, so buying the stock as it falls could be considered catching a falling knife. Buy signals only exist if resistance breaks higher.
This often is a signal that the stock you are watching is weak. Waiting for a turn higher may be more intelligent than trying to catch a falling knife. In any case, new support levels are usually revised to the database at the beginning of the next trading session.

• Short WFRD slightly under 71.57, target n/a, stop loss @ 71.78 Details

The technical summary data is suggesting a short of WFRD as it gets near 71.57, but the downside target is not available from the current data. This tells us to hold that position if it is triggered until a new downside target has been established (updates occur at the beginning of every trading session) or until the position has been stopped. The summary data tells us to have a stop loss in place at 71.78. 71.57 is the first level of resistance above 68.58, and by rule, any test of resistance is a short signal. In this case, if resistance 71.57 is being tested, so a short signal would exist.

Swing Trading Plans for WFRD

• Buy WFRD slightly over 71.57, target 89.54, Stop Loss @ 71.36 Details

If 71.57 begins to break higher, the technical summary data tells us to buy WFRD just slightly over 71.57, with an upside target of 89.54. The data also tells us to set a stop loss @ 71.36 in case the stock turns against the trade. 71.57 is the first level of resistance above 68.58, and by rule, any break above resistance is a buy signal. In this case, 71.57, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short WFRD slightly near 71.57, target 67.3, Stop Loss @ 71.78. Details

The technical summary data is suggesting a short of WFRD if it tests 71.57 with a downside target of 67.3. We should have a stop loss in place at 71.78 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 71.57, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for WFRD

• Buy WFRD slightly over 68.86, target 71.57, Stop Loss @ 68.7 Details

If 68.86 begins to break higher, the technical summary data tells us to buy WFRD just slightly over 68.86, with an upside target of 71.57. The data also tells us to set a stop loss @ 68.7 in case the stock turns against the trade. 68.86 is the first level of resistance above 68.58, and by rule, any break above resistance is a buy signal. In this case, 68.86, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short WFRD slightly near 68.86, target 67.48, Stop Loss @ 69.02. Details

The technical summary data is suggesting a short of WFRD if it tests 68.86 with a downside target of 67.48. We should have a stop loss in place at 69.02 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 68.86, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Check the time stamp on this data. Updated AI-Generated Signals for Weatherford International Plc (WFRD) available here: WFRD.

WFRD Ratings for December 28:

Term →	Near	Mid	Long
Rating	Neutral	Weak	Weak
P1	0	0	71.57
P2	67.48	63.43	89.54
P3	68.86	67.3	108.04

AI Generated Signals for WFRD

Real Time Updates for Repeat Institutional Readers:

• Factset: Request User/Pass
• Bloomberg, Reuters, Refinitiv, Zacks, or IB users: Access Here.

Instructions:

• Click the Get Real Time Updates button below.

• In the login prompt, select forgot username

• Type the email you use for Factset

• Use the user/pass you receive to login

• You will have 24/7 access to real time updates.

From then on you can just click to get the real time update whenever you want.

GET REAL TIME UPDATES

Market Crash Leading Indicator

Our Market Crash Leading Indicator isEvitar Corte.

• Evitar Corte warned of market crash risk four times since 2000.

• It identified the Internet Debacle before it happened.

• It identified the Credit Crisis before it happened.

• It identified the Corona Crash too.

• See what Evitar Corte is Saying Now.

Get Notified When our Ratings Change:Take a Trial

This Weatherford International Plc (NASDAQ: WFRD) report was produced by Stock Traders Daily.  Over the past 20 years our metholdology has been refined to help identify strategies for both individual stocks and the stock markets, with prudent risk controls.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for WFRD change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

Subscribers also receive market analysis, stock correlation tools, macroeconomic observations, timing tools, and protection from market crashes using Evitar Corte.  

Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if WFRD is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for WFRD too.  All of these are offered below the Summary Table.