Halliburton (HAL) Approaches New Downside Target of $36.02
Halliburton (NYSE:HAL) has opened bearishly below the pivot of $36.61 today and has reached the first level of support at $36.34. Should the shares continue to fall, the support pivots of $36.02 and $35.43 will be of interest.
In the past 52 weeks, Halliburton share prices have been bracketed by a low of $26.28 and a high of $39.19 and are now at $36.49, 39% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has remained constant.
Halliburton has overhead space with shares priced $36.49, or 14.8% below the average consensus analyst price target of $42.85. The stock should discover initial support at its 50-day moving average (MA) of $33.09 and subsequent support at its 200-day MA of $32.57.
SmarTrend recommended that subscribers consider buying shares of Halliburton on November 29th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $32.85. Since that recommendation, shares of Halliburton have risen 11.6%. We continue to monitor HAL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: pivot alerts Halliburton