Thursday, October 2, 2014

Oil Services Dip, Know These Levels

This morning, the leading oil service stocks are declining at the start of the trading session. It is important to note that this important industry group has been very strong lately and still remains in an uptrend on the daily charts Today, the Market Vectors Oil Services ETF (NYSEARCA:OIH) is declining lower by 0.47 cents to $43.11 a share. Short term traders should watch for intra-day support around the $42.75, and 42.45 levels.

Some leading oil service stocks that are falling lower today includes Baker Hughes Incorporated (NYSE:BHI), National-Oilwell Varco Inc (NYSE:NOV), Schlumberger Limited (NYSE:SLB), and Halliburton Company (NYSE:HAL) among several other companies in the sector. Most of these stocks will generally trade together, however, each stock should be followed on an individual basis.



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