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|It was a first positive week for the Halliburton Co. (HAL). During the week, the HAL gained 0.96 points, or 2.09%, and closed at 46.99 on Friday, March 09, 2018. It was the best weekly gain since January 26, 2018. Weekly volume was -8% below average. |
HAL is a member of Basic Materials Sector. Basic Materials is the second most oversold sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
Long-term trend: [See HAL long-term trend chart]
A long-term uptrend had started on August 18, 2017 at 38.18 and reached 57.86 on January 23, 2018. HAL gained -19.68 points, or -51.55%, in 22 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 43.22 and resistance is at 62.65. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.
Medium-term trend: [See HAL medium-term trend chart]
A medium-term downtrend had started on January 23, 2018 at 57.86 and reached 44.98 on March 7, 2018. HAL lost 12.88 points, or 22.26%, in 6 weeks. The price is now at the 15.61% retracement level.
Weekly Technical Indicators: [See HAL weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since February 23, 2018. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. Use the following link to access a MACD help.
Short-term trend: [See HAL short-term trend chart]
A short-term downtrend had started on February 27, 2018 at 48.94 and reached 44.98 on March 7, 2018. HAL lost 3.96 points, or 8.09%, in 8 days. The price is now at the 50.76% retracement level.
Daily Technical Indicators: [See HAL daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
A Parabolic SAR (stop and reversal) indicator (47.36) comes close to the price (46.99). It indicates that the trend is getting weaker. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
The distance between the Bollinger Bands (6.72%) is close to one year low (6.28%). It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.