This was indeed an extremely complex correction with two expanding diagonals forming the impulse waves and and a triangle as the B corrective wave. IF the upper trendline of the C wave is broken, we can see a resumption of prices to the upside till the entire month is completed. Trade well. Cheers.
The stabilization in energy prices lately has meant relief in some oil & gas stocks. Halliburton shares have been one of them, putting in a series of higher lows since mid-January. The pullback in the previous two weeks sets up for a low risk buying opportunity (stop loss under $41.90). HAL is now poised to fill the gap from November ($46.70-$47.50 range) in the...
Triangles have already proved themselves.
Halliburton Technical Analysis - The price completed a double bottom formation -50-days SMA breakout -Trend line breakout -Earlier bullish divergence on RSI momentum Potential first upside target could be near 47.80-48.00 resistance area.. 41.00 level could be the invalidation level for this idea. Be one of the first members of my new trading portal, check my...
Gaps indicate the direction of movement.
Weekly candle chart.... Halliburton obviously has a large exposure to crude oil prices (see my publication "Crude Oil Bottom"), so a bottom in crude should correspond to a bottom in HAL. The almost 7 year support line has held to date and provides an added element of safety. HAL underwent a perfect fibonacci retracement. In this case the retracement was the...
So many similarities remain from 2008 and now, have to say them, and play them... Oil started to crash, HAL its economic representative did also, and the dollar jumped upward historically, gold plunged. Preceeding all that was a very nice ABC wave, and the same happened in 2011, and the same happened before this last bull run. Then we went down hard in a...
The entire oil industry has reached a pivot point. We have long term trend support (red), shorter term trend support (blue), horizontal supports (major - purple). To say I am watching this carefully is an understatement. Oil has still room to run lower, perhaps to 67-68 per barrel, and if that does happen, HAL breaks its major support here, and heads toward one...
We have 2 head & shoulder in this uptrend channel all the way up from Jul 2013! Now, ever since HAL broke down from the uptrend channel, it has been struggling to break back above the channel. With major indices in US so strong, HAL is not making progress, if the challenge to blue region is not successful and get rejected, we going to see another leg of...
Am I crazy, wait don't answer that... taking a couple liberties here, but looks awfully similar. And why do we even post stuff on this website? Yes, to help each other make money, save money. All I am saying is... I would NOT be long HAL right now, and if oil prices continue to go lower, and Fracking being profitable above $100 barrel, maybe oil production...
If we are being honest, and if (two big "ifs") we are to repeat the swoon of 2011, by percentage of drop , at the levels we are at now, versus in 2011, this chart is NOT THAT FAR FETCHED. I know this looks extreme, given the VIX levels now, and you will just laugh, but... being honest, there's a part of you that agrees this could happen, right? I've heard more...