iShares U.S. Oil Equipment & Services ETF
One of the items I'll be including for my client/desk research for tomorrow:
iShares U.S. Oil Equipment & Services ETF (Last: $15.72)
With oil majors in a much better position compared to prior years, we could see the suppliers to these majors start to be benefit as capex potentially rises.
You could look at it as a "during a gold rush, sell shovels" type of scenario.
I find this type of technical structure very attractive, with price having consolidated for an extended period while again testing the upside range.
I think it breaks and has a run here (medium term view).
For more real-time insights and trade ideas, get in touch today.
iShares U.S. Oil Equipment & Services ETF (Last: $15.72)
With oil majors in a much better position compared to prior years, we could see the suppliers to these majors start to be benefit as capex potentially rises.
You could look at it as a "during a gold rush, sell shovels" type of scenario.
I find this type of technical structure very attractive, with price having consolidated for an extended period while again testing the upside range.
I think it breaks and has a run here (medium term view).
For more real-time insights and trade ideas, get in touch today.