Nymex crude oil futures traded to a fresh 2016 high of $52.42 per barrel on Dec. 5. McDermott (MDR) - Get Report remains the biggest winner, up 130% year to date versus 37.2% for oil.

Diamond Offshore (DO) - Get Report , Noble (NE) - Get Report , Transocean (RIG) - Get Report and Tidewater(TDW) - Get Report are in bull market territory versus their 2016 lows as is crude oil.

This does not mean all five stocks are out of the woods. Their technical charts show Diamond Offshore, Noble and Tidewater are in bear market territory versus their 2016 highs.

Here's the scorecard for crude oil and the five oil-services stocks.

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The weekly charts show a red line through the price bars, which is the key weekly moving average (a five-week modified moving average). The green line is the 200-week simple moving average considered the "reversion to the mean."

The study in red along the bottom of the chart is weekly momentum (a 12x3x3 weekly slow stochastic), which scales between 00.00 and 100.00, where readings above 80.00 indicates overbought and readings below 20.00 indicates oversold.

A negative weekly chart shows the stock below its key weekly moving average with weekly momentum declining below 80.00 in a trend towards 20.00. A positive weekly chart shows the stock above its key weekly moving average with weekly momentum rising above 20.00 in a trend towards 80.00.

Here's the weekly chart for Diamond Offshore.

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Courtesy of MetaStock Xenith

Diamond Offshore trades around $19, down 8.2% year to date and in bear market territory 27.5% below its June 8 high of $26.72. The stock is also in bull market territory 36.6% above its Jan. 20 low of $14.18.

The weekly chart is positive with the stock above its key weekly moving average of $17.69 and well below its 200-week simple moving average of $38.77. The weekly momentum reading is projected to rise to 53.83 this week up from 41.94 on Dec. 2.

Investors looking to buy weakness should do so at $17.28, which is a key level on technical charts until the end of next week. Investors looking to reduce holdings should consider doing so on strength to $19.56 and $22.10, which are key level on technical charts until the end of December.

Here's the weekly chart for McDermott.

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Courtesy of MetaStock Xenith

McDermott trades at close to $8, up 130.4% year to date and set a fresh 2016 high of $7.73 on Dec. 8. The stock is in bull market territory 250.9% above its Jan. 20 low of $2.20. McDermott was a buy as an "option on survival," which is a stock trading between $1 and $3 a share.

The weekly chart is positive but overbought with the stock above its key weekly moving average of $6.25 and above its 200-week simple moving average of $6.04, which was the target as the "reversion to the mean" one month ago, on Nov. 2. The weekly momentum reading is projected to rise to 91.02 this week up from 88.54 on Dec. 2, rising further above the overbought threshold of 80.00.

Investors looking to buy McDermott should consider doing so on weakness to $6.70, which is a key level on technical charts until the end of December. Investors looking to reduce holdings should consider selling strength to $9.36, which is a key level on technical charts going back to the high set during the week of Jan. 24, 2014.

Here's the weekly chart for Noble.

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Courtesy of MetaStock Xenith

Noble shares trade around $7, down 36.4% year to date and in bear market territory 51.7% below its March 7 high of $13.90. The stock is in bull market territory 45.6% above its Nov. 2 low of $4.61.

The weekly chart is positive with the stock above its key weekly moving average of $5.90 and well below its 200-week simple moving average of $20.03. The weekly momentum reading is projected to rise to 48.84 this week up from 38.13 on Dec. 2.

Investors looking to buy Noble should consider doing so on weakness to $5.49, which is a key level on technical charts until the end of 2016. Investors looking to reduce holdings should consider doing so if the stock rises to $9.55, which is another key level on technical charts until the end of 2016.

Here's the weekly chart for Transocean.

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Courtesy of MetaStock Xenith

Transocean shares trade close to $15, up 19.9% year to date and in bull market territory 93.5% above its Feb. 24 low of $7.67.

The weekly chart is positive but overbought with the stock above its key weekly moving average of $11.88 but well below its 200-week simple moving average of $27.85. The weekly momentum reading is projected to rise to 81.28 this week up from 75.24 on Dec. 2, moving above its overbought threshold of 80.00.

Investors looking to buy Transocean should consider doing so on weakness to $12.98, which is a key level on technical charts until the end of December. Investors looking to reduce holdings should consider doing so at $27.85, which is the 200-week simple moving average.

Here's the weekly chart for Tidewater.

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Courtesy of MetaStock Xenith

Tidewater trades around $3.50. The stock rose above the "option on survival" price range of $1 to $3, after a low of $1.50 set on Oct. 31. The stock is down 48% year to date and in bear market territory 70.3% below its March 7 high of $11.58. The stock is now in bull market territory 129.3% above its Oct. 31 low of $1.50.

The weekly chart is positive with the stock below its key weekly moving average of $2.63 and is still well below its 200-week simple moving average of $31.43. The weekly momentum reading is projected to rise to 41.15 this week up from 29.41 on Dec. 2.

Investors looking to buy Tidewater should consider buying weakness to $3 as an "option on survival." Investors looking to reduce holdings should consider doing so if the stock rises to $5.31, which is a key level on technical charts until the end of 2016.

This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.