FIB retracement shows indications of a final-long on HAL w/ the current entry point still providing strong value. On a great day for the market overall, Halliburton is on the wave of corrections again:
USOIL is pushing towards 41/bar and could hit 42+ by the conclusion of the trading week: Again, this is an "all systems go" for the same HAL long that has been discussed since entrance at 5/share in mid-March. This is not a "too late to enter" scenario at all; rather, a perfect entry point for anyone looking for a nice long swing trade on this crucial cog in the oil refinery industry
Addendum (Unnecessary variety): Though I did claim on a previous update to the last HAL entry that I would exit @ 12.5/share - I clearly talked myself out of that one and maintain the strength of confidence I did when first entering this. The eventual correction we are looking for is 22/share; it traded 25 on the opening of the calendar year before the disaster took hold of the market due to COVID-19 mania...
As always: Happy Trading and Investing!
-BDR
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I have done analysis to set a high-end 3rd pivot sell point @ 21.1 per share.
A natural exit at 16 is a first jump-off, imo. Hard to advise against as it should really should fight a lot of resistance when it approaches that mark.