Oil States Breaking Out?

Published on Friday, 03 February 2012 20:48 Written by Christopher Lynn

New York, February 3rd (TradersHuddle.com) - Shares of Oil States International, Inc. (NYSE:OIS) closed the trading session at $83.72 just above calculated resistance at $82.99 effectively breaking out, grabbing the attention of momentum traders, which could eventually push the stock to different trading range

Oil States International, Inc. (NYSE:OIS) provides specialty products and services to oil and gas drilling and production companies. The Company supplies connection technology for offshore oil and gas development and production, distributes tubular goods, and furnishes hydraulic workover and well control services. Oil States also provides remote site accommodations, catering, and logistics.

Oil States' stock was trading in a well defined range with support at $77.51 and resistance at $82.99, given that this range was broken traders will be closely monitoring the stock