Oil Equipment & Services Industry

Monitor and predict the growth prospects and potential risks of the Oil Equipment & Services industry by examining the financial and macroeconomic factors affecting it and the latest Oil Equipment & Services news tracked by MacroVar. Sign Up Free to get notified instantly on the latest Oil Equipment & Services updates and get full access to MacroVar advanced analytics of Global Financial Markets, Economies and Financial Risk.

Click to explore the factors and the financial models used by MacroVar to analyze the Oil Equipment & Services industry trend, growth prospects and risks.

Oil Equipment & Services Industry Markets

Market Symbol Last Mom Trend Exh RSI 1D% 1W% 1M% 1Y%
US Oil Equipment & Services industry US.OILEQSERV 258.27 0.5 1 2.4683 55.0253 0.00518 -0.06166 0.0772 0.52147

Oil Equipment & Services Industry News

Oil Equipment & Services Industry Analysis

MacroVar monitors the performance, risk, trend and momentum of the Oil Equipment & Services industry by examining the stock and credit performance of major Oil Equipment & Services companies across the US, Europe, Eastern Europe and Asia Pacific. Oil Equipment & Services Stock performance is monitored by analyzing STOXX equity indices of major Oil Equipment & Services companies while Oil Equipment & Services credit performance is monitored by analyzing Markit iBoxx credit indices reflecting the performance of the Oil Equipment & Services high yield corporate bond market.

MacroVar also monitors fundamental indicators closely linked to the Oil Equipment & Services sector published monthly including analysis of sector specific PMI indicators, components of Manufacturing & Services PMI and Economic Sentiment Indicators analysis.

MacroVar also monitors other factors closely related to the Oil Equipment & Services industry like closely related financial markets or macroeconmic indicators.

MacroVar estimates the following signals:: Oil Equipment & Services momentum, Oil Equipment & Services trend, Oil Equipment & Services oscillator, Oil Equipment & Services RSI and Oil Equipment & Services returns.

Oil Equipment & Services description

The Oil Equipment & Services subsector includes companies engaged in the supply of equipment and services to oil fields and offshore platforms, such as drilling, exploration, seismic-information services and platform construction.

Oil Equipment & Services Momentum

Momentum is used to capture moves in shorter timeframes than trends. Momentum is the relative change occurring in markets. Relative change is different to a trend. A long-term trend can be up but the short-term momentum of a specific market can be 0. If a market moves down and then moves up and then moves back down the net relative change in price is 0. That means momentum is 0. A short-term positive momentum, with a long-term downtrend results in markets with no momentum.

MacroVar Oil Equipment & Services momentum signal ranges from -100 to +100. The Oil Equipment & Services momentum signal is derived as the mean value from 4 calculations for the Oil Equipment & Services . The timeframes monitored are the following: 1 Day (1 trading day), 1 Week (5 trading days), 1 Month (20 trading days), 3 Months (60 trading days)
For each timeframe, the following calculations are performed: 1. Oil Equipment & Services return is calculated for the specific timeframe and 2. if the return calculated is higher than 0, signal value output is 1 else signal value is -1. Oil Equipment & Services momentum signal is the aggregate of the the 4 values. A technical momentum rollover is identified when Oil Equipment & Services momentum signal moves from positive to negative value or vice-versa.

Oil Equipment & Services trend

Oil Equipment & Services trend signal ranges from -100 to +100. Oil Equipment & Services trend indicator is the mean value of the 8 calculations described below. The timeframes monitored are the following: 1-month (20 trading days), 3-months (60 trading days), 6-months (125 trading days), 1-year (250 trading days)
For each timeframe, the following calculations are performed: 1. Oil Equipment & Services Closing price vs Oil Equipment & Services moving average (MA) calculation: If Oil Equipment & Services is greater than Oil Equipment & Services MA value is +1, else -1, 2. Oil Equipment & Services Moving average slope calculation: if current Oil Equipment & Services moving average is higher than the previous MA, Oil Equipment & Services upward slope +1, else -1
Oil Equipment & Services trend model can be used as a trend strength indicator. Oil Equipment & Services trend strength values ranging between +75 and +100 or -75 and -100 show strong trend strength.
A technical trend rollover is identified when Oil Equipment & Services trend strength indicator moves from positive to negative value or vice-versa.

The most important trend indicator
The Oil Equipment & Services 52-week simple moving average and its slope are the most important indicators defining a market’s trend. Oil Equipment & Services is in an uptrend when Oil Equipment & Services price is higher than the 52-week moving average and the Oil Equipment & Services 52-week moving average has an upward slope. If fundamentals of the market have not changed and the moving average slope is still in uptrend, a price drop signifies a market correction and not a change of trend. Traders should watch oscillators like the Oil Equipment & Services oscillator and Oil Equipment & Services RSI to buy the dip and still follow the trend. The moving average slope turn signifies a change of trend.

Oil Equipment & Services oscillator

The Oil Equipment & Services oscillator estimated by MacroVar is the z-score of the currentOil Equipment & Services price versus Oil Equipment & Services 1-year simple moving average price. The formula for the Oil Equipment & Services oscillator is:
Oil Equipment & Services oscillator = (Current Price – 250 trading days Oil Equipment & Services simple moving average price) / (250 days Oil Equipment & Services price standard deviation)

Oil Equipment & Services oversold conditions
Oil Equipment & Services is oversold when it is subject to a persistent downward pressure due to extreme fund outflows. When the Oil Equipment & Services is oversold it is often due for a rebound. Values of the Oil Equipment & Services oscillator lower than -2.5 signify oversold conditions. It must be noted that the Oil Equipment & Services oscillator must be analyzed ibn conjunction with the rest ofOil Equipment & Services quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the Oil Equipment & Services RSI.
Oil Equipment & Services overbought conditions
Oil Equipment & Services is overbought when it is subject to a persistent upward pressure due to extreme fund inflows. When the Oil Equipment & Services is overbought it is often due for a correction. Values of the Oil Equipment & Services oscillator higher than +2.5 signify overbought conditions. It must be noted that the MacroVar oscillator must be compared to the rest of the Oil Equipment & Services quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the RSI.

Oil Equipment & Services RSI indicator

The RSI indicator measures the speed and change of price movements. The RSI indicator oscillates between 0 and 100. RSI is a useful indicator during normal trending market conditions when an asset price oscillates around its trend value. During big moves and strong trends however, like short squeezes or price spikes RSI and other oscillators don’t work.
During normal trend market conditions and when Oil Equipment & Services is in a downtrend RSI values between 50-60 signify overbought conditions before the downtrend is ready to resume. DuringOil Equipment & Services uptrend, RSI values of 40 to 50 signify oversold conditions before the uptrend is ready to resume. It is strongly not recommended to enter a position when the RSI is “overbought” and falling or vice versa.

Oil Equipment & Services returns

MacroVar calculates Oil Equipment & Services returns for the following timeframes: Daily, Weekly, Monthly, Yearly. The formula for calculating returns is:

Oil Equipment & Services returns = (Oil Equipment & Services Closing Price – Oil Equipment & Services Previous Price)/(Oil Equipment & Services Previous Price)

level”:1} –>

Oil Equipment & Services Industry

Monitor and predict the growth prospects and potential risks of the Oil Equipment & Services industry by examining the financial and macroeconomic factors affecting it and the latest Oil Equipment & Services news tracked by MacroVar. Sign Up Free to get notified instantly on the latest Oil Equipment & Services updates and get full access to MacroVar advanced analytics of Global Financial Markets, Economies and Financial Risk.

Click to explore the factors and the financial models used by MacroVar to analyze the Oil Equipment & Services industry trend, growth prospects and risks.

Oil Equipment & Services Industry Markets

Market Symbol Last Mom Trend Exh RSI 1D% 1W% 1M% 1Y%
US Oil Equipment & Services industry US.OILEQSERV 258.27 0.5 1 2.4683 55.0253 0.00518 -0.06166 0.0772 0.52147

Oil Equipment & Services Industry News

Oil Equipment & Services Industry Analysis

MacroVar monitors the performance, risk, trend and momentum of the Oil Equipment & Services industry by examining the stock and credit performance of major Oil Equipment & Services companies across the US, Europe, Eastern Europe and Asia Pacific. Oil Equipment & Services Stock performance is monitored by analyzing STOXX equity indices of major Oil Equipment & Services companies while Oil Equipment & Services credit performance is monitored by analyzing Markit iBoxx credit indices reflecting the performance of the Oil Equipment & Services high yield corporate bond market.

MacroVar also monitors fundamental indicators closely linked to the Oil Equipment & Services sector published monthly including analysis of sector specific PMI indicators, components of Manufacturing & Services PMI and Economic Sentiment Indicators analysis.

MacroVar also monitors other factors closely related to the Oil Equipment & Services industry like closely related financial markets or macroeconmic indicators.

MacroVar estimates the following signals:: Oil Equipment & Services momentum, Oil Equipment & Services trend, Oil Equipment & Services oscillator, Oil Equipment & Services RSI and Oil Equipment & Services returns.

Oil Equipment & Services description

The Oil Equipment & Services subsector includes companies engaged in the supply of equipment and services to oil fields and offshore platforms, such as drilling, exploration, seismic-information services and platform construction.

Oil Equipment & Services Momentum

Momentum is used to capture moves in shorter timeframes than trends. Momentum is the relative change occurring in markets. Relative change is different to a trend. A long-term trend can be up but the short-term momentum of a specific market can be 0. If a market moves down and then moves up and then moves back down the net relative change in price is 0. That means momentum is 0. A short-term positive momentum, with a long-term downtrend results in markets with no momentum.

MacroVar Oil Equipment & Services momentum signal ranges from -100 to +100. The Oil Equipment & Services momentum signal is derived as the mean value from 4 calculations for the Oil Equipment & Services . The timeframes monitored are the following: 1 Day (1 trading day), 1 Week (5 trading days), 1 Month (20 trading days), 3 Months (60 trading days)
For each timeframe, the following calculations are performed: 1. Oil Equipment & Services return is calculated for the specific timeframe and 2. if the return calculated is higher than 0, signal value output is 1 else signal value is -1. Oil Equipment & Services momentum signal is the aggregate of the the 4 values. A technical momentum rollover is identified when Oil Equipment & Services momentum signal moves from positive to negative value or vice-versa.

Oil Equipment & Services trend

Oil Equipment & Services trend signal ranges from -100 to +100. Oil Equipment & Services trend indicator is the mean value of the 8 calculations described below. The timeframes monitored are the following: 1-month (20 trading days), 3-months (60 trading days), 6-months (125 trading days), 1-year (250 trading days)
For each timeframe, the following calculations are performed: 1. Oil Equipment & Services Closing price vs Oil Equipment & Services moving average (MA) calculation: If Oil Equipment & Services is greater than Oil Equipment & Services MA value is +1, else -1, 2. Oil Equipment & Services Moving average slope calculation: if current Oil Equipment & Services moving average is higher than the previous MA, Oil Equipment & Services upward slope +1, else -1
Oil Equipment & Services trend model can be used as a trend strength indicator. Oil Equipment & Services trend strength values ranging between +75 and +100 or -75 and -100 show strong trend strength.
A technical trend rollover is identified when Oil Equipment & Services trend strength indicator moves from positive to negative value or vice-versa.

The most important trend indicator
The Oil Equipment & Services 52-week simple moving average and its slope are the most important indicators defining a market’s trend. Oil Equipment & Services is in an uptrend when Oil Equipment & Services price is higher than the 52-week moving average and the Oil Equipment & Services 52-week moving average has an upward slope. If fundamentals of the market have not changed and the moving average slope is still in uptrend, a price drop signifies a market correction and not a change of trend. Traders should watch oscillators like the Oil Equipment & Services oscillator and Oil Equipment & Services RSI to buy the dip and still follow the trend. The moving average slope turn signifies a change of trend.

Oil Equipment & Services oscillator

The Oil Equipment & Services oscillator estimated by MacroVar is the z-score of the currentOil Equipment & Services price versus Oil Equipment & Services 1-year simple moving average price. The formula for the Oil Equipment & Services oscillator is:
Oil Equipment & Services oscillator = (Current Price – 250 trading days Oil Equipment & Services simple moving average price) / (250 days Oil Equipment & Services price standard deviation)

Oil Equipment & Services oversold conditions
Oil Equipment & Services is oversold when it is subject to a persistent downward pressure due to extreme fund outflows. When the Oil Equipment & Services is oversold it is often due for a rebound. Values of the Oil Equipment & Services oscillator lower than -2.5 signify oversold conditions. It must be noted that the Oil Equipment & Services oscillator must be analyzed ibn conjunction with the rest ofOil Equipment & Services quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the Oil Equipment & Services RSI.
Oil Equipment & Services overbought conditions
Oil Equipment & Services is overbought when it is subject to a persistent upward pressure due to extreme fund inflows. When the Oil Equipment & Services is overbought it is often due for a correction. Values of the Oil Equipment & Services oscillator higher than +2.5 signify overbought conditions. It must be noted that the MacroVar oscillator must be compared to the rest of the Oil Equipment & Services quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the RSI.

Oil Equipment & Services RSI indicator

The RSI indicator measures the speed and change of price movements. The RSI indicator oscillates between 0 and 100. RSI is a useful indicator during normal trending market conditions when an asset price oscillates around its trend value. During big moves and strong trends however, like short squeezes or price spikes RSI and other oscillators don’t work.
During normal trend market conditions and when Oil Equipment & Services is in a downtrend RSI values between 50-60 signify overbought conditions before the downtrend is ready to resume. DuringOil Equipment & Services uptrend, RSI values of 40 to 50 signify oversold conditions before the uptrend is ready to resume. It is strongly not recommended to enter a position when the RSI is “overbought” and falling or vice versa.

Oil Equipment & Services returns

MacroVar calculates Oil Equipment & Services returns for the following timeframes: Daily, Weekly, Monthly, Yearly. The formula for calculating returns is:

Oil Equipment & Services returns = (Oil Equipment & Services Closing Price – Oil Equipment & Services Previous Price)/(Oil Equipment & Services Previous Price)

level”:1} –>

Oil Equipment & Services Industry

Monitor and predict the growth prospects and potential risks of the Oil Equipment & Services industry by examining the financial and macroeconomic factors affecting it and the latest Oil Equipment & Services news tracked by MacroVar. Sign Up Free to get notified instantly on the latest Oil Equipment & Services updates and get full access to MacroVar advanced analytics of Global Financial Markets, Economies and Financial Risk.

Click to explore the factors and the financial models used by MacroVar to analyze the Oil Equipment & Services industry trend, growth prospects and risks.

Oil Equipment & Services Industry Markets

Market Symbol Last Mom Trend Exh RSI 1D% 1W% 1M% 1Y%
US Oil Equipment & Services industry US.OILEQSERV 258.27 0.5 1 2.4683 55.0253 0.00518 -0.06166 0.0772 0.52147

Oil Equipment & Services Industry News

Oil Equipment & Services Industry Analysis

MacroVar monitors the performance, risk, trend and momentum of the Oil Equipment & Services industry by examining the stock and credit performance of major Oil Equipment & Services companies across the US, Europe, Eastern Europe and Asia Pacific. Oil Equipment & Services Stock performance is monitored by analyzing STOXX equity indices of major Oil Equipment & Services companies while Oil Equipment & Services credit performance is monitored by analyzing Markit iBoxx credit indices reflecting the performance of the Oil Equipment & Services high yield corporate bond market.

MacroVar also monitors fundamental indicators closely linked to the Oil Equipment & Services sector published monthly including analysis of sector specific PMI indicators, components of Manufacturing & Services PMI and Economic Sentiment Indicators analysis.

MacroVar also monitors other factors closely related to the Oil Equipment & Services industry like closely related financial markets or macroeconmic indicators.

MacroVar estimates the following signals:: Oil Equipment & Services momentum, Oil Equipment & Services trend, Oil Equipment & Services oscillator, Oil Equipment & Services RSI and Oil Equipment & Services returns.

Oil Equipment & Services description

The Oil Equipment & Services subsector includes companies engaged in the supply of equipment and services to oil fields and offshore platforms, such as drilling, exploration, seismic-information services and platform construction.

Oil Equipment & Services Momentum

Momentum is used to capture moves in shorter timeframes than trends. Momentum is the relative change occurring in markets. Relative change is different to a trend. A long-term trend can be up but the short-term momentum of a specific market can be 0. If a market moves down and then moves up and then moves back down the net relative change in price is 0. That means momentum is 0. A short-term positive momentum, with a long-term downtrend results in markets with no momentum.

MacroVar Oil Equipment & Services momentum signal ranges from -100 to +100. The Oil Equipment & Services momentum signal is derived as the mean value from 4 calculations for the Oil Equipment & Services . The timeframes monitored are the following: 1 Day (1 trading day), 1 Week (5 trading days), 1 Month (20 trading days), 3 Months (60 trading days)
For each timeframe, the following calculations are performed: 1. Oil Equipment & Services return is calculated for the specific timeframe and 2. if the return calculated is higher than 0, signal value output is 1 else signal value is -1. Oil Equipment & Services momentum signal is the aggregate of the the 4 values. A technical momentum rollover is identified when Oil Equipment & Services momentum signal moves from positive to negative value or vice-versa.

Oil Equipment & Services trend

Oil Equipment & Services trend signal ranges from -100 to +100. Oil Equipment & Services trend indicator is the mean value of the 8 calculations described below. The timeframes monitored are the following: 1-month (20 trading days), 3-months (60 trading days), 6-months (125 trading days), 1-year (250 trading days)
For each timeframe, the following calculations are performed: 1. Oil Equipment & Services Closing price vs Oil Equipment & Services moving average (MA) calculation: If Oil Equipment & Services is greater than Oil Equipment & Services MA value is +1, else -1, 2. Oil Equipment & Services Moving average slope calculation: if current Oil Equipment & Services moving average is higher than the previous MA, Oil Equipment & Services upward slope +1, else -1
Oil Equipment & Services trend model can be used as a trend strength indicator. Oil Equipment & Services trend strength values ranging between +75 and +100 or -75 and -100 show strong trend strength.
A technical trend rollover is identified when Oil Equipment & Services trend strength indicator moves from positive to negative value or vice-versa.

The most important trend indicator
The Oil Equipment & Services 52-week simple moving average and its slope are the most important indicators defining a market’s trend. Oil Equipment & Services is in an uptrend when Oil Equipment & Services price is higher than the 52-week moving average and the Oil Equipment & Services 52-week moving average has an upward slope. If fundamentals of the market have not changed and the moving average slope is still in uptrend, a price drop signifies a market correction and not a change of trend. Traders should watch oscillators like the Oil Equipment & Services oscillator and Oil Equipment & Services RSI to buy the dip and still follow the trend. The moving average slope turn signifies a change of trend.

Oil Equipment & Services oscillator

The Oil Equipment & Services oscillator estimated by MacroVar is the z-score of the currentOil Equipment & Services price versus Oil Equipment & Services 1-year simple moving average price. The formula for the Oil Equipment & Services oscillator is:
Oil Equipment & Services oscillator = (Current Price – 250 trading days Oil Equipment & Services simple moving average price) / (250 days Oil Equipment & Services price standard deviation)

Oil Equipment & Services oversold conditions
Oil Equipment & Services is oversold when it is subject to a persistent downward pressure due to extreme fund outflows. When the Oil Equipment & Services is oversold it is often due for a rebound. Values of the Oil Equipment & Services oscillator lower than -2.5 signify oversold conditions. It must be noted that the Oil Equipment & Services oscillator must be analyzed ibn conjunction with the rest ofOil Equipment & Services quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the Oil Equipment & Services RSI.
Oil Equipment & Services overbought conditions
Oil Equipment & Services is overbought when it is subject to a persistent upward pressure due to extreme fund inflows. When the Oil Equipment & Services is overbought it is often due for a correction. Values of the Oil Equipment & Services oscillator higher than +2.5 signify overbought conditions. It must be noted that the MacroVar oscillator must be compared to the rest of the Oil Equipment & Services quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the RSI.

Oil Equipment & Services RSI indicator

The RSI indicator measures the speed and change of price movements. The RSI indicator oscillates between 0 and 100. RSI is a useful indicator during normal trending market conditions when an asset price oscillates around its trend value. During big moves and strong trends however, like short squeezes or price spikes RSI and other oscillators don’t work.
During normal trend market conditions and when Oil Equipment & Services is in a downtrend RSI values between 50-60 signify overbought conditions before the downtrend is ready to resume. DuringOil Equipment & Services uptrend, RSI values of 40 to 50 signify oversold conditions before the uptrend is ready to resume. It is strongly not recommended to enter a position when the RSI is “overbought” and falling or vice versa.

Oil Equipment & Services returns

MacroVar calculates Oil Equipment & Services returns for the following timeframes: Daily, Weekly, Monthly, Yearly. The formula for calculating returns is:

Oil Equipment & Services returns = (Oil Equipment & Services Closing Price – Oil Equipment & Services Previous Price)/(Oil Equipment & Services Previous Price)

level”:1} –>

Oil Equipment & Services Industry

Monitor and predict the growth prospects and potential risks of the Oil Equipment & Services industry by examining the financial and macroeconomic factors affecting it and the latest Oil Equipment & Services news tracked by MacroVar. Sign Up Free to get notified instantly on the latest Oil Equipment & Services updates and get full access to MacroVar advanced analytics of Global Financial Markets, Economies and Financial Risk.

Click to explore the factors and the financial models used by MacroVar to analyze the Oil Equipment & Services industry trend, growth prospects and risks.

Oil Equipment & Services Industry Markets

Market Symbol Last Mom Trend Exh RSI 1D% 1W% 1M% 1Y%
US Oil Equipment & Services industry US.OILEQSERV 258.27 0.5 1 2.4683 55.0253 0.00518 -0.06166 0.0772 0.52147

Oil Equipment & Services Industry News

Oil Equipment & Services Industry Analysis

MacroVar monitors the performance, risk, trend and momentum of the Oil Equipment & Services industry by examining the stock and credit performance of major Oil Equipment & Services companies across the US, Europe, Eastern Europe and Asia Pacific. Oil Equipment & Services Stock performance is monitored by analyzing STOXX equity indices of major Oil Equipment & Services companies while Oil Equipment & Services credit performance is monitored by analyzing Markit iBoxx credit indices reflecting the performance of the Oil Equipment & Services high yield corporate bond market.

MacroVar also monitors fundamental indicators closely linked to the Oil Equipment & Services sector published monthly including analysis of sector specific PMI indicators, components of Manufacturing & Services PMI and Economic Sentiment Indicators analysis.

MacroVar also monitors other factors closely related to the Oil Equipment & Services industry like closely related financial markets or macroeconmic indicators.

MacroVar estimates the following signals:: Oil Equipment & Services momentum, Oil Equipment & Services trend, Oil Equipment & Services oscillator, Oil Equipment & Services RSI and Oil Equipment & Services returns.

Oil Equipment & Services description

The Oil Equipment & Services subsector includes companies engaged in the supply of equipment and services to oil fields and offshore platforms, such as drilling, exploration, seismic-information services and platform construction.

Oil Equipment & Services Momentum

Momentum is used to capture moves in shorter timeframes than trends. Momentum is the relative change occurring in markets. Relative change is different to a trend. A long-term trend can be up but the short-term momentum of a specific market can be 0. If a market moves down and then moves up and then moves back down the net relative change in price is 0. That means momentum is 0. A short-term positive momentum, with a long-term downtrend results in markets with no momentum.

MacroVar Oil Equipment & Services momentum signal ranges from -100 to +100. The Oil Equipment & Services momentum signal is derived as the mean value from 4 calculations for the Oil Equipment & Services . The timeframes monitored are the following: 1 Day (1 trading day), 1 Week (5 trading days), 1 Month (20 trading days), 3 Months (60 trading days)
For each timeframe, the following calculations are performed: 1. Oil Equipment & Services return is calculated for the specific timeframe and 2. if the return calculated is higher than 0, signal value output is 1 else signal value is -1. Oil Equipment & Services momentum signal is the aggregate of the the 4 values. A technical momentum rollover is identified when Oil Equipment & Services momentum signal moves from positive to negative value or vice-versa.

Oil Equipment & Services trend

Oil Equipment & Services trend signal ranges from -100 to +100. Oil Equipment & Services trend indicator is the mean value of the 8 calculations described below. The timeframes monitored are the following: 1-month (20 trading days), 3-months (60 trading days), 6-months (125 trading days), 1-year (250 trading days)
For each timeframe, the following calculations are performed: 1. Oil Equipment & Services Closing price vs Oil Equipment & Services moving average (MA) calculation: If Oil Equipment & Services is greater than Oil Equipment & Services MA value is +1, else -1, 2. Oil Equipment & Services Moving average slope calculation: if current Oil Equipment & Services moving average is higher than the previous MA, Oil Equipment & Services upward slope +1, else -1
Oil Equipment & Services trend model can be used as a trend strength indicator. Oil Equipment & Services trend strength values ranging between +75 and +100 or -75 and -100 show strong trend strength.
A technical trend rollover is identified when Oil Equipment & Services trend strength indicator moves from positive to negative value or vice-versa.

The most important trend indicator
The Oil Equipment & Services 52-week simple moving average and its slope are the most important indicators defining a market’s trend. Oil Equipment & Services is in an uptrend when Oil Equipment & Services price is higher than the 52-week moving average and the Oil Equipment & Services 52-week moving average has an upward slope. If fundamentals of the market have not changed and the moving average slope is still in uptrend, a price drop signifies a market correction and not a change of trend. Traders should watch oscillators like the Oil Equipment & Services oscillator and Oil Equipment & Services RSI to buy the dip and still follow the trend. The moving average slope turn signifies a change of trend.

Oil Equipment & Services oscillator

The Oil Equipment & Services oscillator estimated by MacroVar is the z-score of the currentOil Equipment & Services price versus Oil Equipment & Services 1-year simple moving average price. The formula for the Oil Equipment & Services oscillator is:
Oil Equipment & Services oscillator = (Current Price – 250 trading days Oil Equipment & Services simple moving average price) / (250 days Oil Equipment & Services price standard deviation)

Oil Equipment & Services oversold conditions
Oil Equipment & Services is oversold when it is subject to a persistent downward pressure due to extreme fund outflows. When the Oil Equipment & Services is oversold it is often due for a rebound. Values of the Oil Equipment & Services oscillator lower than -2.5 signify oversold conditions. It must be noted that the Oil Equipment & Services oscillator must be analyzed ibn conjunction with the rest ofOil Equipment & Services quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the Oil Equipment & Services RSI.
Oil Equipment & Services overbought conditions
Oil Equipment & Services is overbought when it is subject to a persistent upward pressure due to extreme fund inflows. When the Oil Equipment & Services is overbought it is often due for a correction. Values of the Oil Equipment & Services oscillator higher than +2.5 signify overbought conditions. It must be noted that the MacroVar oscillator must be compared to the rest of the Oil Equipment & Services quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the RSI.

Oil Equipment & Services RSI indicator

The RSI indicator measures the speed and change of price movements. The RSI indicator oscillates between 0 and 100. RSI is a useful indicator during normal trending market conditions when an asset price oscillates around its trend value. During big moves and strong trends however, like short squeezes or price spikes RSI and other oscillators don’t work.
During normal trend market conditions and when Oil Equipment & Services is in a downtrend RSI values between 50-60 signify overbought conditions before the downtrend is ready to resume. DuringOil Equipment & Services uptrend, RSI values of 40 to 50 signify oversold conditions before the uptrend is ready to resume. It is strongly not recommended to enter a position when the RSI is “overbought” and falling or vice versa.

Oil Equipment & Services returns

MacroVar calculates Oil Equipment & Services returns for the following timeframes: Daily, Weekly, Monthly, Yearly. The formula for calculating returns is:

Oil Equipment & Services returns = (Oil Equipment & Services Closing Price – Oil Equipment & Services Previous Price)/(Oil Equipment & Services Previous Price)