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Possible Bearish Inside Day Candle Pattern Detected for Halliburton Co (NYSE:HAL)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Halliburton Co (NYSE:HAL) based on the price action in the company's shares. Today's price range of $29.84 and $30.00 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Halliburton Co may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Halliburton Co (NYSE:HAL) has potential upside of 102.3% based on a current price of $29.84 and analysts' consensus price target of $60.37. Halliburton Co shares should first meet resistance at the 50-day moving average (MA) of $30.56 and find additional resistance at the 200-day MA of $36.54.

Halliburton Company provides energy and engineering and construction services, as well as manufactures products for the energy industry. The Company offers services and products and integrated solutions to customers in the exploration, development, and production of oil and natural gas.

In the past 52 weeks, shares of Halliburton Co have traded between a low of $24.70 and a high of $54.91 and are now at $29.84, which is 21% above that low price. The 200-day and 50-day moving averages have moved 0.83% lower and 0.25% higher over the past week, respectively.

SmarTrend is tracking the current trend status for Halliburton Co and will alert subscribers who have HAL in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle halliburton co

Ticker(s): HAL