When the Price of Vaneck Oil Services Etf $OIH Talks, People Listen

May 21, 2023, 02:30 am ET, BY Thomas H. Kee Jr- Editor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for OIH

• Buy OIH slightly over 249.46 target 292.21 stop loss @ 248.74 Details

The technical summary data tells us to buy OIH near 249.46 with an upside target of 292.21. This data also tells us to set a stop loss @ 248.74 to protect against excessive loss in case the stock begins to move against the trade. 249.46 is the first level of support below 260.01 , and by rule, any test of support is a buy signal. In this case, support 249.46 would be being tested, so a buy signal would exist.

• Short OIH slightly under 292.21, target 249.46, stop loss @ 293.05 Details

The technical summary data is suggesting a short of OIH as it gets near 292.21 with a downside target of 249.46. We should have a stop loss in place at 293.05though. 292.21 is the first level of resistance above 260.01, and by rule, any test of resistance is a short signal. In this case, if resistance 292.21 is being tested, so a short signal would exist.

Swing Trading Plans for OIH

• Buy OIH slightly over 292.21, target 335.66, Stop Loss @ 291.37 Details

If 292.21 begins to break higher, the technical summary data tells us to buy OIH just slightly over 292.21, with an upside target of 335.66. The data also tells us to set a stop loss @ 291.37 in case the stock turns against the trade. 292.21 is the first level of resistance above 260.01, and by rule, any break above resistance is a buy signal. In this case, 292.21, 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 292.21, target 259.18, Stop Loss @ 293.05. Details

The technical summary data is suggesting a short of OIH if it tests 292.21 with a downside target of 259.18. We should have a stop loss in place at 293.05 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, 292.21, 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 261.63, target 292.21, Stop Loss @ 261.02 Details

If 261.63 begins to break higher, the technical summary data tells us to buy OIH just slightly over 261.63, with an upside target of 292.21. The data also tells us to set a stop loss @ 261.02 in case the stock turns against the trade. 261.63 is the first level of resistance above 260.01, and by rule, any break above resistance is a buy signal. In this case, 261.63, 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 261.63, target 259.18, Stop Loss @ 262.24. Details

The technical summary data is suggesting a short of OIH if it tests 261.63 with a downside target of 259.18. We should have a stop loss in place at 262.24 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, 261.63, 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.

Check the time stamp on this data. Updated AI-Generated Signals for Vaneck Oil Services Etf (OIH) available here: OIH.

OIH Ratings for May 21:

Term →	Near	Mid	Long
Rating	Weak	Weak	Strong
P1	0	0	249.46
P2	255.12	249.21	292.21
P3	261.63	259.18	335.66

AI Generated Signals for OIH

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This is not EF Hutton, but it could be more #powerful.  A picture speaks a thousand words, they say, and the #priceaction of Vaneck Oil Services Etf (NYSE: OIH) tells an important story.  The movement tells us where investors perceive value, or the lack of it, and if we pay attention we can capture opportunity.  The data below for OIH can be used as an example, and demonstrate how to do this for other stocks too.  This data was current at the time of publication, but it is not updated in real time here. If you want real time updates, or data on a different stock, please get one here Unlimited Real Time Reports.