World Fuel Services (NYSE:INT) shares have crossed bearishly below their 10-day moving average of $43.58 on a volume of 880K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
World Fuel Services share prices have moved between a 52-week high of $49.15 and a 52-week low of $33.65 and are now trading 18% above that low price at $39.74 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.8%.
World Fuel Services Corporation markets aviation and marine fuel services. The Company provides aviation fuel and flight plans, weather reports, and other aviation related services to passenger, cargo, and charter airlines, as well as markets marine fuel and fuel management services to shipping companies and the US military.
Potential upside of 13.7% exists for World Fuel Services, based on a current level of $39.74 and analysts' average consensus price target of $45.20. The stock should find resistance at its 50-day moving average (MA) of $41.97, as well as support at its 200-day MA of $38.41.
