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qais.rasooli
Nov 8, 2018 4:39 PM

WTI close to the 200d Moving Average Long

W&T Offshore, Inc.NYSE

Description

WTI have been historically hitting 200d MA and bouncing back , strong support @ 200 MA. Bought @ 6.68 Target 7.95 , 2nd Target 8.90

Order cancelled

Bad media news and lower volumes has brought this stock to consolidation in the 6-6.5 area, once sign of uptick show up and price goes beyond 6.5 its worth watching. Fundamentally WTI is a losing business , Negative free cash flows for 7 out of 10 years , Free cash flow became positive after 6 years being in the negative territory.
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