InTheMoneyStocks'  Instablog

Send Message
  • Oil Service Stocks Send Mixed Signals 0 comments
    Mar 7, 2013 11:18 AM

    This morning, many of the leading oil service stocks are trading slightly higher on the session. Today, the popular and highly followed Market Vectors Oil Services ETF (NYSEARCA:OIH) is trading higher by just 0.02 cents to $42.37 a share. The current pattern on the daily chart of the OIH signals a potential move down to the $40.85 area, this level should be short term support for the OIH. Should that level fail to hold up the next daily chart support level for the OIH would be around the $39.30 area.

    Day traders should watch for intra-day resistance around the $45.65, and $46.00 levels. If the OIH declines lower throughout the trading day the OIH will have intra-day support around the $42.00, and $41.75 levels.

    Some other leading oil service stocks that are trading slightly higher today include Baker Hughes Incorporated (NYSE:BHI), Schlumberger Limited (NYSE:SLB), and Apache Corporation (NYSE:APA). These stocks could all be volatile over the next few trading sessions as the daily chart patterns seem to resemble the OIH very closely.

    (click to enlarge)

Back To InTheMoneyStocks' Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


  • And he just closed out another one, $DUST for +7.55% in the Research Center...
    Jul 20, 2016
  • Gareth sold his $JDST in the Research Center here: Profit earned = +12.5%. Congrats members!
    Jul 20, 2016
  • $IWM negative already on the day. Small cap warning signal?
    Jul 20, 2016
More »

Latest Comments

Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.