(OIH) Investment Analysis

March 19, 2024, 09:08 am ET, BY Jolene W.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for OIH

• Buy OIH slightly over 321.16 target 353.91 stop loss @ 320.23 Details

The technical summary data tells us to buy OIH near 321.16 with an upside target of 353.91. This data also tells us to set a stop loss @ 320.23 to protect against excessive loss in case the stock begins to move against the trade. 321.16 is the first level of support below 324.12 , and by rule, any test of support is a buy signal. In this case, support 321.16 is being tested, a buy signal would exist.

• Short OIH slightly under 353.91, target 321.16, stop loss @ 354.93 Details

The technical summary data is suggesting a short of OIH as it gets near 353.91 with a downside target of 321.16. We should have a stop loss in place at 354.93though. 353.91 is the first level of resistance above 324.12, and by rule, any test of resistance is a short signal. In this case, if resistance 353.91 is being tested, a short signal would exist.

Swing Trading Plans for OIH

• Buy OIH slightly over 328.05, target 353.91, Stop Loss @ 327.1 Details

If 328.05 begins to break higher, the technical summary data tells us to buy OIH just slightly over 328.05, with an upside target of 353.91. The data also tells us to set a stop loss @ 327.1 in case the stock turns against the trade. 328.05 is the first level of resistance above 324.12, and by rule, any break above resistance is a buy signal. In this case, 328.05, 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 328.05, target 321.74, Stop Loss @ 329. Details

The technical summary data is suggesting a short of OIH if it tests 328.05 with a downside target of 321.74. We should have a stop loss in place at 329 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, 328.05, 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 325.06, target 328.05, Stop Loss @ 324.3 Details

If 325.06 begins to break higher, the technical summary data tells us to buy OIH just slightly over 325.06, with an upside target of 328.05. The data also tells us to set a stop loss @ 324.3 in case the stock turns against the trade. 325.06 is the first level of resistance above 324.12, and by rule, any break above resistance is a buy signal. In this case, 325.06, 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 325.06, target 321.74, Stop Loss @ 325.82. Details

The technical summary data is suggesting a short of OIH if it tests 325.06 with a downside target of 321.74. We should have a stop loss in place at 325.82 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, 325.06, 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 March 19:

Term →	Near	Mid	Long
Rating	Strong	Strong	Neutral
P1	0	0	288.06
P2	325.06	321.74	321.16
P3	329.31	328.05	353.91

AI Generated Signals for OIH

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With an objective approach to Vaneck Oil Services Etf (NYSE: OIH), Stock Traders Daily attempts to go with the flow of the market by utilizing a combination of market analysis and stock analysis.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for OIH change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

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Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if OIH is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for OIH too.  All of these are offered below the Summary Table.