GET DAILY SIGNALSOil Prices Plummeted -7% on Friday To Touch The Year's Nadir
On Friday, oil prices dropped to their lowest level in almost a year. West Texas Intermediate crude briefly plunged about -7% to $50.60 a barrel, its weakest price since Oct. 12, 2017. International benchmark Brent crude price fell -4.9% to around $59.52 a barrel at 9:44 a.m. ET.
Oil prices are down around -20% so far this month. Reports of a possible production cut by OPEC in December is apparently failing to boost prices of crude futures. Traders/investors are probably expecting the pace of oil demand growth to fall short of supply. The International Energy Agency (IEA) recently projected that non-OPEC output alone would climb to 2.3 million barrels per day (bpd) this year, while global supply has already been climbing so far in 2018. The IEA expects demand in 2019 to grow at a rate of 1.3 million bpd, revising down its previous forecast of 1.5 million bpd. Meanwhile, U.S. President Donald Trump has been urging OPEC not to cut production next month as he is apparently in favor of lower oil prices.
Contributor
Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.
WTID's RSI Indicator ascends from oversold territory
The RSI Indicator for WTID moved out of oversold territory on October 27, 2026. This could be a sign that the stock is shifting from a downward trend to an upward trend. Traders may want to buy the stock or call options. The A.I.dvisor looked at 29 similar instances when the indicator left oversold territory. In 27 of the 29 cases the stock moved higher. This puts the odds of a move higher at 90%.
Technical Analysis (Indicators)
Bullish Trend Analysis
The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. 40 of 50 cases where WTID's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 80%.
The Moving Average Convergence Divergence (MACD) for WTID just turned positive on October 27, 2026. Looking at past instances where WTID's MACD turned positive, the stock continued to rise in 35 of 40 cases over the following month. The odds of a continued upward trend are 88%.
Following a +3.35% 3-day Advance, the price is estimated to grow further. Considering data from situations where WTID advanced for three days, in 157 of 194 cases, the price rose further within the following month. The odds of a continued upward trend are 81%.
WTID may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on October 29, 2026. You may want to consider selling the stock, shorting the stock, or exploring put options on WTID as a result. In 54 of 57 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are 90%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where WTID declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 90%.
The Aroon Indicator for WTID entered a downward trend on October 29, 2026. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
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