Early Selling Pressure In The Oil Service Stocks
This morning, many of the leading oil service stocks are coming under some selling pressure to start the day. One of the leading stocks in the industry group is Halliburton Co (NYSE:HAL). Today, HAL stock is trading lower by 0.30 cents to $41.78 a share. Short term traders should watch for intra-day support around the $41.50, and $41.18 levels. The daily chart of HAL stock is still holding up well. Should the stock decline further, traders should watch for daily chart support around the $38.00 area.
Some leading oil service stocks that are declining lower today include Transocean LTD (NYSE:RIG), Baker Hughes Incorporated (NYSE:BHI), Schlumberger Limited (NYSE:SLB), and Weatherford International Ltd (NYSE:WFT). Traders that are looking to track and trade the entire industry group can use the Market Vectors Oil Services ETF (NYSEARCA:OIH).