• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Halliburton Co (NYSE:HAL)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Halliburton Co (NYSE:HAL) based on the price action in the company's shares. Yesterday's price range of $25.10 and $25.35 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Halliburton Co may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, Halliburton Co share prices have been bracketed by a low of $16.97 and a high of $32.71 and closed yesterday at $24.66, 45% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 1.4%.

There is potential upside of 144.8% for shares of Halliburton Co based on a current price of $24.66 and an average consensus analyst price target of $60.37. Halliburton Co shares have support at the 200-day moving average (MA) of $22.76 and additional support at the 50-day MA of $22.20.

Halliburton Company provides energy and engineering and construction services, as well as manufactures products for the energy industry. The Company offers services and products and integrated solutions to customers in the exploration, development, and production of oil and natural gas.

SmarTrend recommended that subscribers consider buying shares of Halliburton Co on November 5th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $21.13. Since that recommendation, shares of Halliburton Co have risen 20.2%. We continue to monitor HAL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle halliburton co

Ticker(s): HAL