I don't usually try to pick bottoms, but here is an interesting play. The divergence in OBV first drew my attention, and the Accumulation Distribution also confirms OBV (I just didn't include it in the chart). I also think the Oil Service Industry in general may be nearing a bottom. The same OBV divergence exists in the OIH. Also, the Oil Service names have been flat while Crude Oil declines, showing another positive divergence.
Oil States International (OIS)
Oil Service HOLDRS (OIH)
No comments:
Post a Comment