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SLB, HAL, BHGE, and NOV: Oilfield Services Stocks Have Risen

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Mar. 25 2019, Published 11:15 a.m. ET

Oilfield services stocks

After falling significantly in 2018, the top oilfield services stocks have witnessed some gains in 2019. Schlumberger (SLB) and Baker Hughes (BHGE) have risen 18% and 26%, respectively, in 2019. Halliburton (HAL) and National Oilwell Varco (NOV) have risen 8% and 4%, respectively. The VanEck Vectors Oil Services ETF (OIH) has risen 21% year-to-date. So far, crude oil prices have risen ~30% in 2019.

The above graph compares oilfield services stocks’ performances in 2019.

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Moving averages

Baker Hughes stock is trading ~3% below its 200-day moving average and 9% above its 50-day moving average. The stock might face resistance near its 200-day average level. Halliburton is trading below its 50-day and 200-day moving averages. The stock might face resistance around its 50-day moving average level.

Schlumberger is trading close to its 50-day moving average and below its 200-day moving average. National Oilwell Varco is also trading below its 50-day and 200-day moving averages. The stock might face resistance around its 50-day moving average level.

Short interest

According to data released on March 11, the short interest in Halliburton, Schlumberger, National Oilwell Varco, and Baker Hughes fell ~1.4%, 4.5%, 3.3%, and 6.4%, respectively.

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