The PEAD projected a Bullish outlook for $HAL after a Negative Under reaction following its earnings release placing the stock in drift D with an expected accuracy of 66.67%.
Halliburton has broken a 8 year downtrend and it looks like it can continue to go higher. Solid earnings report yesterday and the global demand for oil is strong amid sanctions on Russian oil. With a forward PE of around 23.58 and a dividend of 1.15%, this is exactly what the smart money wants right now.
I have been positioning into this for a long term...
Looking for further downside as per my prior communications. Sector has been strong but cannot remain overbought forever. This is just simply how the market works.
HAL busted out of the gate with the energy sector and put it into high gear after earnings. Is moving sideways. With a bearish horizon on oil and energy possible lets keep an eye on the red support and resistance from 2019 and see if an opportunity presents itself. For now, moving sideways. Close or a break of lower flag area means time to look at the option chain...
Breakout Resistance, became support.
Entry 25.4
Stop 24
Target 32
Risk management is much more important than a good entry point.
I am not a PRO trader.
In my trading plan, the Max Risk of each short term trade should be less than 1% of an account.
Price retraced after earnings, but there is divergence on falling volume
Potentially price should hold at ~$25.60 support before recovering to the upside
Seasonality for haliburton is 100% upside for Oct to Dec!
Energy stock have been doing pretty well for obvious reasons and i believe it will continue to perform.
Not a fan of technical analysis, nonetheless the charts looks like it broke on daily and is breaking on weekly.
Stop loss: ~ 23.70
Target ~ 37.90
We have arrived at the 200EMA and have been pushed back slightly, its always a fight to cross over right?! Well this shouldn't be much of a fight with 5 weeks of bullish volume and for the last 3 of those weeks we've been over the 21MA 50EMA & 20EMA. So a position here isn't looking like a bad thing! A break over $25.10 should run the stock up to about $30 and I...
