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SmarTrend Watching for Potential Rebound in Shares of Oil Services Holders Trust After 1.70% Loss

By James Quinn

Oil Services Holders Trust (NYSE:OIH) traded in a range yesterday that spanned from a low of $30.07 to a high of $30.73. Yesterday, the shares fell 1.7%, which took the trading range below the 3-day low of $30.55 on volume of 1.7 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Oil Services Holders Trust has traded in a range of $20.46 to $39.80 and is now at $30.14, 47% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 1.4%.

SmarTrend recommended that its subscribers protect gains by selling shares of Oil Services Holders Trust on January 31st, 2017 by issuing a Downtrend alert when the shares were trading at $33.07. Since that call, shares of Oil Services Holders Trust have fallen 7.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders oil services holders trust

Ticker(s): OIH