ISIN: US4062161017

The Halliburton Company is a leading, globally operating provider of technical services for companies in the oil and energy sector. The group was founded in 1919 and has its headquarters in Houston, Texas, USA. In the following analysis, we will discuss the stock of the company from a technical point of view.

 

Review

Since the end of January of this year, a downward trend formed in the stock which, as things progressed, was confirmed over and over again. In addition, the much-observed SMA 200 was exited downwards. Currently, the value is far into the correction of the last downward movement, and it is worth keeping an eye out for short signals.

 

stock HAL daily chart with trend

stock HAL daily chart with trend

 

Outlook

The correction of the downward trend that is visible in the daily chart can be recognized as an upward trend in the subordinate trend size in the hourly chart. In order to find a short entry into this stock, one should first wait for a trend reversal (blue arrows in the hourly chart). Here, an entry would be possible at the point 2 or subsequently from out of the correction, with a stop loss above the point 3 that would have formed by then. The marker around 38.70 USD serves as a target area (green zone).

 

HAL hourly chart with outlook

HAL hourly chart with outlook

 

If the price clearly and sustainably rises above the area of 46 USD (red line), the short scenario should be abandoned. Before trading, one should take news in the environment and from the company into account. Similarly, one should also observe the overall market.

 

 

 

Disclosure of possible conflicts of interest: at the time of publishing this analysis, the author is not invested in the securities or underlyings discussed.

Disclaimer

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