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

By James Quinn

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 $10.31 and $10.61 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.

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.

Halliburton Co (NYSE:HAL) has potential upside of 470.6% based on a current price of $10.58 and analysts' consensus price target of $60.37. The stock should hit resistance at its 200-day moving average (MA) of $17.90, as well as support at its 50-day MA of $8.56.

In the past 52 weeks, shares of Halliburton Co have traded between a low of $4.25 and a high of $27.89 and closed yesterday at $10.58, which is 149% above that low price. The 200-day and 50-day moving averages have moved 1.1% lower and 4.8% lower over the past week, respectively.

SmarTrend is tracking the current trend status for Halliburton Co and will alert subscribers who have HAL in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle halliburton co

Ticker(s): HAL