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Oil States International Set to Possibly Rebound After Yesterday's Selloff of 2.12%

By David Diaz

Oil States International (NYSE:OIS) traded in a range yesterday that spanned from a low of $31.05 to a high of $31.65. Yesterday, the shares fell 2.1%, which took the trading range below the 3-day low of $31.35 on volume of 191,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Oil States International has traded in a range of $21.44 to $47.27 and is now at $31.20, 46% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 2.6%.

SmarTrend recommended that its subscribers protect gains by selling shares of Oil States International on February 17th, 2017 by issuing a Downtrend alert when the shares were trading at $36.72. Since that call, shares of Oil States International have fallen 13.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders oil states international

Ticker(s): OIS