Look for Shares of Halliburton to Potentially Pullback after Yesterday's 5.11% Rise
Halliburton (NYSE:HAL) traded in a range yesterday that spanned from a low of $47.70 to a high of $49.81. Yesterday, the shares gained 5.1%, which took the trading range above the 3-day high of $47.83 on volume of 9.9 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
Over the past year, Halliburton has traded in a range of $27.64 to $50.20 and is now at $49.36, 79% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.9%.
SmarTrend recommended that subscribers consider buying shares of Halliburton on September 22nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $43.11. Since that recommendation, shares of Halliburton have risen 9.2%. We continue to monitor HAL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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