AMEX:OIH   VanEck Oil Services ETF
After almost 7 years of bearish price action, oil services will be essential in the transition to electric vehicles and clean energy. Most automakers are shooting for 2025 to have an entire EV fleet or mostly EV fleet. That's a 4-7 year runway for a bull run; assuming that it will take time to transition and for all automakers to be on the same page. Freight and travel will only increase with time further improving demand for oil and oil services.

Tom Lee from Fundstrat gave this oil services ETF a price target of $740 if oil hits $80 a barrel which seems extremely likely with the macroenvironment. Playing this trend through an ETF is the safest way to play it because you are taking out the idiosyncratic risk of being tied solely to a single company.

The top ten holdings of OIH are:
SLB: 22.46%
HAL: 13.21%
BKR: 5.84%
FTI: 5.22%
CHX: 4.97%
TS: 4.63%
LBRT: 4.57%
NOV: 4.37%
HP: 4.13%
RIG: 4.00%

Weekly Chart:

Daily Chart with Golden Cross:


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