pool adsManaging Risk in Vaneck Vectors Oil Svcs Etf $OIH by Using Price Action
This price action in Vaneck Vectors Oil Svcs Etf (NYSE: OIH) can help investors find opportunity, and manage risk. Stock Traders Daily has demonstrated that in this article. Review The plans for OIH below, and you will see how this works. Keep in mind, this data is current, but it is not real time. If you want a real time updates, or data on a different stock, please get one here Unlimited Real Time Reports.
Technical Summary
| Term → | Near | Mid | Long |
|---|---|---|---|
| Rating | Neutral | Weak | Strong |
| P1 | 0 | 0 | 162.33 |
| P2 | 182.30 | 179.93 | 188.10 |
| P3 | 189.61 | 187.05 | 217.46 |
Support and Resistance Plot Chart for OIH
Long Term Trading Plans for OIH
April 20, 2021, 2:45 pm ET
The Technical Summary and Trading Plans for OIH help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this OIH Report.
OIH - (Long) Support Plan
The technical summary data tells us to buy OIH near 162.33 with an upside target of 188.10. This data also tells us to set a stop loss @ 161.86 to protect against excessive loss in case the stock begins to move against the trade. 162.33 is the first level of support below 172.78 , and by rule, any test of support is a buy signal. In this case, support 162.33 would be being tested, so a buy signal would exist.
OIH - (Short) Resistance Plan
The technical summary data is suggesting a short of OIH as it gets near 188.10 with a downside target of 162.33. We should have a stop loss in place at 188.64though. 188.10 is the first level of resistance above 172.78, and by rule, any test of resistance is a short signal. In this case, if resistance 188.10 is being tested, so a short signal would exist.
Blue = Current Price
Red= Resistance
Green = Support
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