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Technical analysis: HALLIBURTON COMPANY (#HAL)

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

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