Today the Oil Services HOLDRs ETF (OIH) broke out of a nice three month base which could serve as the start of a fresh uptrend that may last several weeks or longer. This particular ETF focuses in on the oil services industry and is comprised of 15 different stocks.
Because of the breakout tonight's feature post will hone in on oil services stocks specifically. As an investor considering to invest in this potential new uptrend below are 14 stocks that should be added to the watch list and considered.
To find these stocks I spent several hours breaking down OIH holdings alongside digging into strong fundamental services companies tied in with oil. Not only are these companies financially sound but they are also all in strong technical shape and are being accumulated by institutions.
All 14 oil services stocks are below with charts accompanying most of them. There is no particular ranking or order. Click the thumbnail image to view the full chart.
1. Oil Services HOLDRs (OIH) - A nice breakout today from this ETF tracking the Oil Services industry could be the start of a new long term uptrend.
OIH chart2. Halliburton (HAL) - This stock is up over 40% since bottoming at $21.10 on June 1st, 2010. Several moves of higher highs are accompanied by a handful of nice accumulation days the last two months. Next buy opportunity lies at $31.10.
HAL chart3. Baker Hughes (BHI)
4. Transocean (RIG) - This stock still needs some technical work but could become a buy if it breaks through $55. Today was a nice accumulation day for institutions and more will be needed before this stock can make its way to $60 and beyond.
RIG chart5. Schlumberger (SLB) - Almost a mirror image of OIH, SLB today broke through $62 resistance nicely on good above average volume. It now sits just below the 200 MA *not shown* but should mvoe higher from here.
SLB chart6. National Oilwell Varco (NOV) - After creeping up from its $32.18 lows on lower volume the last three sessions for NOV have been fantastic. The stock today gave confirmation to its $39 break on strong volume.
NOV chart7. Smith International (SII)
8. Sunoco (SUN) - A base forming here for SUN. I'd like to see more horizontal work before the stock tries to break higher. $36.60 is the next technical buypoint.
SUN chart9. Magellan Midstream Partners (MMP)
10. Newpark Resources (NR) - Beautiful movement from this stock as instituions continue to gobble up shares and drive the stock higher. This latest bull flag should lead to even higher prices. Buypoint would technically be $8.45.
NR chart11. RPC Inc (RES)
12. Core Laboratories (CLB) - A rising wedge that traditionally is bearish. Also note the heavy distribution day. I would avoid this stock until it can setup a proper base and retest $84 highs.
CLB chart13. Complete Production Services (CPX)
14. Superior Well Services Inc (SWSI)
As usual, stay frosty out there 
[...] Returns of 70%. Read his entry to find out which company’s share rose by 70%. 12. Here are 14 High Flying Oil Services Stocks to Watch. These companies are financially sound, and are being accumulated by institutions. 13. When Stock [...]