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Watch for Shares of Halliburton (HAL) to Approach Support at $50.07

By Nick Russo

Shares of Halliburton (NYSE:HAL) have bearishly opened below the pivot of $50.95 today and have reached the first support level of $50.42. Analysts will be watching for a cross of the next downside pivot targets of $50.07 and $49.19.

In the past 52 weeks, shares of Halliburton have traded between the current low of $0.00 and a high of $58.78 and are now at $0.00. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.9%.

Halliburton has overhead space with shares priced $0.00, or 100.0% below the average consensus analyst price target of $64.41. Halliburton shares should first meet resistance at the 200-day moving average (MA) of $36.57 and find additional resistance at the 50-day MA of $36.84.

SmarTrend recommended that its subscribers protect gains by selling shares of Halliburton on February 24th, 2017 by issuing a Downtrend alert when the shares were trading at $52.67. Since that call, shares of Halliburton have fallen 3.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: pivot alerts Halliburton

Ticker(s): HAL