Weatherford International (WFT): Share price cycles in bullish 'flag'

Filed under: Earnings reports, Halliburton (HAL), Schlumberger Limited (SLB), Technical Analysis, Stocks to Buy

Weatherford International (NYSE: WFT) provides equipment and services for the drilling and production sectors of the oil and gas industry. The firm specializes in contract drilling, formation evaluation, well installation/completion systems, "fishing" services, oil recovery, and pipeline services. The company operates in over 100 countries and employs approximately 40,500 people worldwide. Halliburton Company (NYSE: HAL) and Schlumberger Limited (NYSE: SLB) are competitors.

The stock popped with the sector last Friday, when crude oil concluded a six percent weekly gain with its fourth new closing high. On Monday, the firm reported essentially in-line first quarter results and announced a 2-for-1 stock split (payable May 23).

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