VANECK OIL SERVICES ETF (OIH) Stock Technical Analysis
NYSEARCA:OIH - NYSE Arca - US92189H6071 - ETF - Currency: USD
We assign a technical rating of 2 out of 10 to OIH. Recently some decent action could be observed, but in the medium term time frame this is still negative. OIH was also a bad performer in the overall market in the last year.
OIH has a bad technical rating, but it does show a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 229.89. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 223.61, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for OIH in the last couple of days, which is a good sign. Another positive sign is the recent Pocket Pivot signal.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
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218.27
When analyzing the support we notice one important area.
- A support zone ranging from 220.47 to 223.61. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
When analyzing the resistance we notice 4 important areas.
- A resistance zone ranging from 229.89 to 231.87. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @239.61 from a trend line in the daily time frame.
- Resistance @271.83 from a trend line in the weekly time frame.
- A resistance zone ranging from 301.90 to 304.72. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | DOWN | NEGATIVE | The long term trend for OIH is down. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for OIH is up. |
| ChartMill Relative Strength | 17.42 | NEGATIVE | OIH has a low relative strength, it was outperformed by 82.58% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of OIH is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | MIXED | The current price of OIH is above a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of OIH is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 57.6 | NEUTRAL | The RSI value for OIH is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 1.13 | POSITIVE | The MACD value suggests OIH has a positive trend. |
| Stochastics (14,3) | 76.75 | NEUTRAL | The Stochastics value for OIH is a neutral value. |
| Average True Range in percent/ATR (20) | 2.73 | MEDIUM VOLATILITY | The ATR as a percentage value for OIH suggests some volalility. |
| Average Directional Index/ADX (14) | 14.36 | NEGATIVE | The low ADX value for OIH suggests a weak or negative trend. |
229.88
+5.52 (+2.46%)