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Technicals Are Weakening for Oil-Service Stocks

Here are the post-earnings profiles for the 10 companies. Two “crunching the numbers” tables follow.

The biggest year-to-date winner is Nabors (NBR) ($26.84) with a gain of 58%. In second place is Weatherford International (WFT - Get Report) ($22.04), which is up 42% year to date.

The biggest loser is Transocean (RIG - Get Report) ($38.59) with a year-to-date loss of 22%. This stock is the cheapest fundamentally with a 12-month trailing price-to-earnings ratio of 7.9 and dividend yield of 7.7%.

Note the sea of red in the five moving averages in the first “crunching the numbers” table. Only Halliburton (HAL) ($69.54) and National Oilwell (NOV) ($82.22) are above their five-week modified moving averages at $69.11 and $81.60, respectively.

Because all 10 stocks have declining 12x3x3 weekly slow stochastics, Halliburton and National Oilwell will join the other eight with negative weekly charts, given closes this week below $69.11 and $81.60, respectively.

Diamond Offshore DO ($44.65); Transocean and Tidewater (TDW) (49.47) are the only stocks below their 200-week simple moving averages at $60.46, $52.49 and $52.19, respectively.

The second “crunching the numbers” table shows that eight of the 10 oil-services stocks beat analysts' EPS estimates. Only Halliburton and Tidewater missed estimates.

Here’s a brief trading summary for each stock focusing on volatility since June 30.

Baker Hughes (BHI) ($68.90) began the second half of the year at $74.45 and set a multiyear intraday high at $75.64 on July 2. The semiannual risky level at $70.46 was a value level as the second half of the year began and failed to hold on July 31 to become a risky level.

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