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What to Expect from Whiting Petroleum for the Rest of 2017

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Part 8
What to Expect from Whiting Petroleum for the Rest of 2017 PART 8 OF 10

What Whiting Petroleum’s Stock Movements Indicate

Whiting Petroleum’s moving averages

Whiting Petroleum (WLL) stock has fallen significantly since last year, as we can see in the image below. This downtrend was a result of weak crude oil (USO) (DBO) prices.

Whiting Petroleum is currently trading below its 50-day moving average (or DMA). On September 13, 2017, WLL stock was trading 3.1 % below its 50 DMA.

What Whiting Petroleum’s Stock Movements Indicate

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WLL’s 50-DMA crossed under its 200-DMA in late April this year. Usually, when a short-term moving average crosses under a long-term moving average, traders consider it a bearish sign.

WLL’s stock had been showing a rising trend since September last year up until the initial months of this year, mirroring increasing crude oil prices. As a result, WLL’s stock was trading above both its 50-DMA and 200-DMA, and the 50-DMA ended up crossing over its 200-DMA. However, as crude oil prices started falling, WLL’s stock took a downturn, crossing under the 50-DMA and soon after the 200-DMA. For more insights into WLL’s stock movements, read Would You Be Willing to Bet on Whiting Petroleum?

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