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Watch for Halliburton Co to Potentially Pullback After Gaining 2.25% Yesterday

By Shiri Gupta

Halliburton Co (NYSE:HAL) traded in a range yesterday that spanned from a low of $39.25 to a high of $40.16. Yesterday, the shares gained 2.2%, which took the trading range above the 3-day high of $39.30 on volume of 3.8 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Halliburton Co share prices have been bracketed by a low of $38.18 and a high of $58.78 and are now at $39.79, 4% above that low price. 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 its subscribers protect gains by selling shares of Halliburton Co on August 1st, 2017 by issuing a Downtrend alert when the shares were trading at $42.12. Since that call, shares of Halliburton Co have fallen 7.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders halliburton co

Ticker(s): HAL