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SmarTrend Watching for Potential Rebound in Shares of Halliburton After 1.80% Loss

By Shiri Gupta

Halliburton (NYSE:HAL) traded in a range yesterday that spanned from a low of $43.91 to a high of $44.93. Yesterday, the shares fell 1.8%, which took the trading range below the 3-day low of $44.77 on volume of 7.8 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Halliburton share prices have moved between a 52-week high of $50.20 and a 52-week low of $27.64 and are now trading 61% above that low price at $44.40 per share. Over the past week, 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 May 17th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $40.97. Since that recommendation, shares of Halliburton have risen 9.8%. We continue to monitor HAL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders Halliburton

Ticker(s): HAL