Weatherford (WFRD) 1D Strong Uptrend - Energy Bull MarketWeatherford typically bounces higher from this level on the RSI on the daily chart. The stock was up nearly 5% today when my article was published before the market open. The stock is in a steady long-term uptrend which has been driven by the demand for Weatherford's oil and natural gas services. The company produces various equipment used in oil, natural gas, and geothermal drilling and related projects. These markets are expected to continue to grow through the remainder of the decade.
Weatherford has been making EBITDA margin improvements and is expected to increase EBITDA by about 26% in 2024 which could drive the stock higher if conditions remain favorable for commodities. Check out the full article here:
seekingalpha.com