Oil Services ETF (OIH) Triggers Buy Signal

Guy Cerundolo
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$OIH Oil Services Sector ETF Chart – Buy Signal

The Energy Sector (NYSEARCA: XLE) has been an underperformer for investors for the majority of 2019 thus far.

However, the sector is attempting to rally and is beginning to give off bullish signals.

In particular, the Oil Services ETF (NYSEARCA: OIH) is a sub-sector that is showing emerging near-term strength.

The Oil Services ETF (OIH) is oversold with a momentum divergence. This confirms that the opportunity is there.

As well, we can find a number of stocks within the group that look like great trading buys right here.

If the group can gain strong upside momentum in the days and weeks to come, this trading buy can extend further. We are bullish on this ETF given the good reward to risk here.

The author has positions in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.