Oil Services Slide Early
The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.
This morning, all of the leading oil services stocks are declining lower. Earlier today, Halliburton Co (NYSE: HAL) reported earning that were below investors expectations. The stock is trading lower by $1.30 to $34.91 a share. Short term traders should watch for intra-day support around the $34.50 and $33.85 levels. The stock could see short term intra-day bounces from this area.
Traders that want to follow the entire oil services sector can follow the Market Vectors Oil Services ETF (NYSE: OIH). The OIH will have short term intra-day support around the $121.00 and $120.00 levels. Should the OIH trade higher this morning traders should watch for intra-day resistance around the $123.05 area.
Nicholas Santiago
InTheMoneyStocks.com
Posted in: Markets
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