W&T Offshore (WTI) Shares are Up 10%

W&T Offshore (WTI) has been under a strong bear grip, hence the stock is down -0.03% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 9.82% in the past 1 week. The stock has risen by 10% in the past week indicating that the buyers are active at lower levels, but the stock is down -0.57% in the past 4 weeks.

The stock has recorded a 20-day Moving Average of 6.57% and the 50-Day Moving Average is 3.26%.The 200 Day SMA reached 14.61%


W&T Offshore (NYSE:WTI): After opening at $1.76, the stock dipped to an intraday low of $1.68 on Friday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $1.77 and the buying power remained strong till the end. The stock closed at $1.76 for the day, a gain of 1.15% for the day session. The total traded volume was 1,083,832. The stocks close on the previous trading day was $1.76.

W&T Offshore, Inc. is an independent oil and natural gas producer. The Company is engaged in the exploration, development and acquisition of oil and natural gas properties primarily in the Gulf of Mexico and the Permian Basin in West Texas. Its onshore activities are primarily in the Permian Basin in West Texas. The Company owns a platform in the Gulf of Mexico located in a National Marine Sanctuary. The offshore fields are found in water depths ranging from less than 10 feet up to 7,200 feet. Its properties include Spraberry Field (Yellow Rose), Ship Shoal 349 Field (Mahogany), Fairway Field, The Viosca Knoll 783 field, Mississippi Canyon 243 Field (Matterhorn), Main Pass 108 Field, Mississippi Canyon 782 Field (Dantzler), Viosca Knoll 823 Field (Virgo), East Cameron 321 and Main Pass 283.

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