Oil Services Stocks Get Rattled

The major oil services stocks are declining lower this morning. The highly traded Oil Services Holders Trust (NYSE:OIH) is declining lower this morning by $5.17 to $152.99 a share. The OIH will come into some strong intra-day support around the $151.50 level. Aggressive traders can look for an intra-day bounce around that level.

Halliburton Co. (NYSE:HAL) is a leading oil services stock that is declining today by $1.27 to $43.97 a share. This stock has already bounced intra-day off of it’s daily chart 50 moving average at $43.41. Therefore, should the stock trade down below that level again traders should watch the $43.00 area as the next important intra-day support area.

About Nicholas Santiago 575 Articles

Affiliation: InTheMoneyStocks.com

Nicholas Santiago started trading in 1991. In 1997, he became a licensed Series 7 and 63 registered representative. He managed money for a large, affluent private client group. After applying his knowledge to his client base, he decided it was time to begin teaching those interested in learning his methods. He is an expert in Technical Analysis. He has become an accomplished technician in the studies of Elliot Wave, Gann Theory, Dow Theory and Cycle Theory. In 2007, he partnered with Gareth Soloway to form InTheMoneyStocks.Com and realize his dream of educating others about the truth of the markets.

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