Trading Vaneck Oil Services Etf $OIH With Integrated Risk Controls

April 03, 2023, 09:06 am ET, BY Thomas H. Kee Jr- Editor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Price matters most to #makingmoney in the #stockmarket. Celebrating 20 years, Stock Traders Daily provides the tools that help you develop investment strategies, and this is a good example. When we couple this with our market based analysis, the probabilities of going with the flow increases, and that is material over time. The Vaneck Oil Services Etf (NYSE: OIH) report below can help you, but we have more details too. The trading plans for OIH, and the other 1000+ stocks we follow, are updated in real time for subscribers, but this report is static. If you want an update, or a different report, please get one here Unlimited Real Time Reports.

Longer Term Trading Plans for OIH

• Buy OIH slightly over 292.21 target 335.66 stop loss @ 291.37 Details

The technical summary data tells us to buy OIH near 292.21 with an upside target of 335.66. This data also tells us to set a stop loss @ 291.37 to protect against excessive loss in case the stock begins to move against the trade. 292.21 is the first level of support below 294 , and by rule, any test of support is a buy signal. In this case, support 292.21 is being tested, a buy signal would exist.

• Short OIH slightly under 335.66, target 292.21, stop loss @ 336.63 Details

The technical summary data is suggesting a short of OIH as it gets near 335.66 with a downside target of 292.21. We should have a stop loss in place at 336.63though. 335.66 is the first level of resistance above 294, and by rule, any test of resistance is a short signal. In this case, if resistance 335.66 is being tested, a short signal would exist.

Swing Trading Plans for OIH

• Buy OIH slightly over 335.66, target n/a, Stop Loss @ 334.69 Details

If 335.66 begins to break higher, the technical summary data tells us to buy OIH just slightly over 335.66, with an upside target of n/a. The data also tells us to set a stop loss @ 334.69 in case the stock turns against the trade. 335.66 is the first level of resistance above 294, and by rule, any break above resistance is a buy signal. In this case, 335.66, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short OIH slightly near 335.66, target 292.21, Stop Loss @ 336.63. Details

The technical summary data is suggesting a short of OIH if it tests 335.66 with a downside target of 292.21. We should have a stop loss in place at 336.63 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 335.66, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for OIH

• Buy OIH slightly over 335.66, target n/a, Stop Loss @ 334.88 Details

If 335.66 begins to break higher, the technical summary data tells us to buy OIH just slightly over 335.66, with an upside target of n/a. The data also tells us to set a stop loss @ 334.88 in case the stock turns against the trade. 335.66 is the first level of resistance above 294, and by rule, any break above resistance is a buy signal. In this case, 335.66, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short OIH slightly near 335.66, target 292.21, Stop Loss @ 336.44. Details

The technical summary data is suggesting a short of OIH if it tests 335.66 with a downside target of 292.21. We should have a stop loss in place at 336.44 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 335.66, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

OIH Ratings for April 03:

Term →	Near	Mid	Long
Rating	Weak	Weak	Strong
P1	0	0	249.46
P2	272.85	261.01	292.21
P3	284.43	279.50	335.66

Support and Resistance Plot Chart for OIH

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