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inthemoneystocks' Blog : How Much Fuel Is Left In The Oil Services Stocks?

Date

January 19, 2012

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The oil services sector has been very strong since December 19, 2011. The Market Vectors Oil Services ETF (NYSE:OIH) is trading higher again this morning. The OIH is climbing higher by $1.73 to $122.91 a share. Traders must watch for upside resistance on the daily chart around the $124.75 level. Short term traders can watch for intra-day resistance around the $123.50 and $124.00 levels.

Some leading oil services stocks that are trading higher at the start of the day include Halliburton Co (NYSE:HAL), Baker Hughes Inc (NYSE:BHI), and Schlumberger Ltd (NYSE:SLB). All of these leading stocks could have a little more upside potential on the daily charts, however, when the OIH pulls back most of these stocks will likely follow.

Nicholas Santiago

InTheMoneyStocks.com

Tags : OIH SLB HAL BHI RIG

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sporthunter Date

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January 19, 2012 10:33 Abuse this post

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The trend is your friend, why do people fight this fact, I guess fear of additional gains. Put in a stop-loss for protection and ride the trend higher until the indicators dictate otherwise. If current price crosses back under the 20EMA then close out your position. This is not hard. Happy Trading

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