All of the oil services stocks are surging higher today. All a trader has to do today is simply take a look at the Oil Services Holders Trust(NYSE:OIH). The OIH is trading higher today by $6.84 cents making a new 52 week high for the EFT.
Some of the major components in the Oil Services Holders Trust are Baker Hughes Inc.(NYSE:BHI), Halliburton Co.(NYSE:HAL), and Schlumberger Ltd.(NYSE:SLB). All of these stocks are trading sharply higher today. While the group looks strong today it is important to note that Baker Hughes stock is starting to get extended on the daily chart and should face some near term daily resistance around the $67.50 level.
Nicholas Santiago
InTheMoneyStocks.com
Oil Services Stocks Roar Higher
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.