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Advanced TA SearchArchive
- 5/10/2024 -
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Halliburton Co. (HAL) Technical Analysis
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| Summary:
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| | It was a first positive week after 4 consecutive negative weeks for the Halliburton Co. (HAL). During the week, the HAL climbed 0.34 points, or 0.93%, and closed at 37.07 on Friday, May 10, 2024. Weekly volume was -32% below average.
HAL is a member of Energy Sector. Energy is the most overbought 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 March 18, 2020 at 4.25 and reached 43.99 on June 8, 2022. HAL gained -39.74 points, or -935.06%, in 116 weeks. The chart has formed a Ascending Triangle chart pattern. The trend support level is at 35.31 and resistance is at 43.66. An Ascending Triangle is a variation of triangle formation that has a flat resistance line and rising support line. The higher lows indicate an increasing demand and give the ascending triangle definitive bullish bias. An Ascending Triangle usually represents an accumulation stage in bullish market. An Ascending Triangle is considered to be a continuation pattern, especially in an uptrend, but it may also mark a reversal in a downtrend. Use the following link to access a Ascending Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Ascending Triangle pattern in a long-term trend.
 Medium-term trend: [See HAL medium-term trend chart]
A medium-term uptrend had started on January 17, 2024 at 32.84 and reached 41.56 on April 8, 2024. HAL gained -8.72 points, or -26.55%, in 11 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend support (36.84) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a medium-term trend.
 Weekly Technical Indicators: [See HAL weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since March 15, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. 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 April 8, 2024 at 41.56 and reached 36.10 on May 1, 2024. HAL lost 5.46 points, or 13.14%, in 23 days. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (34.60) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a short-term trend.
Daily Technical Indicators: [See HAL daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since April 11, 2024. This is an indication that the short-term trend is down.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. 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.
During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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