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W&T Offshore (WTI): Moving Average Crossover Alert

Zacks

Are you a technical investor? If so, it may be time to consider W&T Offshore, Inc. WTI for your portfolio. The company just saw its 50 Day Moving Average breakout above its 200 Day Simple moving average, a trend that could indicate some bullishness in the future for WTI.

This trend may have already begun, as shares of WTI have moved by higher by 39.4% in just the past month. Plus, WTI has earned itself a Zacks Rank #1 (Strong Buy), so there is plenty of reason to believe that the run for W&T Offshore has plenty of life left.You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

More bullishness may especially be the case when investors consider what has been happening for WTI on the earnings estimate revision front lately. No estimate has gone lower in the past two months, compared to 1 higher, while the consensus estimate has also moved higher too.

So given this move in estimates, and the positive technical factors, investors may want to watch this breakout candidate closely for more gains in the near future.


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Zacks Investment Research
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