Halliburton showing a positive push with an ascending Triangle on the Weekly.
Not confirmed yet.
Has to push throught the 26$ resistance with volume first.
If confirmed:
Price Target = 46.71$
Stay Humble, have fun, Make money!
Buy Aug-04-23 38.5 Puts @ 0.35 Limit to Open
Buy Aug-11-23 38 Puts @ 0.55 Limit to Open
On critical resistance on several timeframes. Oscillator lingering overbought, in a coiling form.
HAL being part of the energy/ oil sector has been down lately but after all in keeping
with the concept of buying low and selling high, it may be at a buying point. Here in the 4H
chart, I have set up two long term anchored VWAPs one at the swing pivot high a year ago
and another at a swing pivot low last October. As a result the chart has zones between the...
Oil in wave 3 of 5, and will need the power leg to breach the major TL, retest, resume down in "recession" full force move, perhaps demand shock event triggers large wave 5 down. Previous 5 wave timeline looks similar, with strong 5 leg.
Oil-field servicer Halliburton has been dropping since late January, and now the bears could be looking for another move lower.
The first pattern on today’s chart is the tight consolidation pattern since energy stocks rallied on April 3. (Following the unexpected OPEC+ production cuts.) HAL was unable to get above $34.80 while attempting to make higher lows. The...
3M Chart, Halliburton (HAL) :
MACD : On October 1, 2021, the signals on pierced up from below the histogram and have been moving toward the surface since then.
RSI : The signal bounced on January 20, 2020 at 32, steadily moving towards 60.
PRICE : Has been steadily moving up after bouncing on $4.5, around the ATL (All Time Low) already tested twice the 200MA...
since the beginning of 2023, 50 SMA and 20 EMA are strong support levels for this underlying. The stock moved much before earnings and I guess due to iv% there were no big price movements on HAL. I think it could retest Jun 2022 highs. if it fails to hold that level we could see HAL at 35s.
there are interesting actions on Halliburton for the weekly and daily timeframes. I think as soon as HAL could not break 39 and hold it to bounce up. and could test it moving averages or support levels as 35s
Haliburton is setting up in a volatility contraction pattern trying to break out higher. There is supply at the $40 level, so I want to buy on a pullback off that level to create a profit cushion in case it fails there again.
There is also a longer-term cup with handle pattern here with $40 being the top of the handle.
Volume is drying up in the base which...
NYSE:HAL has made Bearish Cypher with PRZ level 0.786 at the price 26.10.
Price has already made confirmation in last day and RSI also indicated divergence.
BUY:
above 29.35 gives buy opportunity.
SELL:
Bellow 26 , Price creates further correction.
HAL is breaking out of a 6 - week bottoming base with nice contraction in volatility prior to the breakout. Also important to note that it is reclaiming its 50-day line.
Short term target is the 50% retracement of its June decline.
$HAL Breakout in 4h Chart on above average volume after consolidation phase - Target 51$
All Entry Criteria have been met:
1. Price above 10, 20 & 50 EMA --> Check
2. Consolidation Phase in Uptrend --> Check
3. Breakout on above average Volume --> Check
HAL is showing incredible strength, with a cluster of RS before new highs and even after a day of significant selling, price still held the short term uptrend that also forms the handle in this cup and handle pattern. Over $42.60 and this stock sees new ATHs with just over a month to go before earnings; HAL has done well on the last 4 earnings and in this current...
$HAL showing a weak cup and handle (low volume on the lows of the cup, and an upward wedging on the lows with regard to the handle). Would've preferred a shakeout on the handle, but instead, we are getting a rising wedge and low volume at the pivot point. Tightening volume at the handle is good, but once it reaches the breakout point, either the breakout is...
