The Halliburton Company provides a range of services and products to oil and natural gas companies around the world.
The company was founded in 1919 and is headquartered in Houston, Texas.
Halliburton (#HAL) is in a strong uptrend channel that started in January 2021 and we believe it can now offer further short-term upside.
The stock dropped from $ 25.00 to stop at $ 19.00, a level that matches both a solid support level and the bottom of the uptrend channel.
Reversal formations at $ 19.00, respecting the bullish channel
20MA that supported the reversal of the stock
MACD is gradually crossing to the upside
RSI has left the oversold territory and has now room to support bullish moves
Entry range $ 20.80 - $ 19.80
Target 1 $ 22.50
Target 2 $ 25.00
Stop loss $ 18.80
OTB Global Investments
27 July 2021