$HAL - Upside breakout potential PT @ $55 + Fundamentals/Oil

Fibonacci Retracements point to a continued rally for HAL             given the recent uptick in commodity prices.

I'm looking for a breakout to $52 (38.2 Fib Retracement), pullback to $48 (23.6 Fib Retracement), at which point i'm buying with a price target of $55 (50% Fib Retracement).

Could go higher, but the upside will be relatively capped given the level of the current US fracklog. Once prices justify completing and turning on these backlogged wells, it will cause the E&Ps to turn on the spigot, again pushing supply to a point where prices will have to react. (There is headline risk given potential Iran deal and capacity issues at cushing)

On a fundamental level, the recent divestiture of assets in concert with the baker hughes             merger should be a long term positive for the company. I'd also look for them to further consolidate once the deal goes through as some smaller oil/gas service companies will start to feel the financial stress of the downturn during this time. Many of them operate in the more marginal areas of the shales/basins resulting in a higher breakeven cost given an expected return of about 10%. I'd also look for
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out