The Greedy Trader Weekly Analysis
Sign In Mar 22, 2024
Skip Navigation Links
Number of records: 1
Share
Symbol:  

• Symbol Lookup
• View Technical Chart
• Add to Watch List
• Candlestick Patterns - N/A
• Stock Technical Indicators
• Stock Trends Analysis
• Market Sector Rank
• Stock Trading Signals

Industrial Gases Industry Stocks Technical Analysis - HAL

Archive
- 3/15/2024 -
Sign In to see current Signals.

Halliburton Co. (HAL) Technical Analysis

Subscribe to TheGreedyTrader Weekly Alerts
Summary:
Weekly :Overbought sectorBroken trend resistance line
Daily :Relative Strength Index and Lane's Stochastic are overboughtBroken trend resistance line20 Day Moving Average has crossed above the 50 Day Moving AverageThe price touches the upper Bollinger Band
Move cursor over the icon to see details.

It was a third consecutive positive week for the Halliburton Co. (HAL). During the week, the HAL gained 1.52 points, or 4.20%, and closed at 37.73 on Friday, March 15, 2024. It was the best weekly gain since January 26, 2024. Weekly volume was 8% above 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 34.15 and resistance is at 43.67. 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 downtrend had started on October 18, 2023 at 43.85 and reached 32.84 on January 17, 2024. HAL lost 11.01 points, or 25.11%, in 13 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (31.15) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. HAL may retest the broken resistance line. It is considered to be a support line now. 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 medium-term trend.

Weekly Technical Indicators: [See HAL weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since November 3, 2023. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See HAL short-term trend chart]
A short-term uptrend had started on February 13, 2024 at 33.79 and reached 38.15 on March 15, 2024. HAL gained -4.36 points, or -12.90%, in 31 days. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (35.32) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 Relative Strength Index and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index and Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Relative Strength Index help.

The daily MACD line is above its signal line since February 15, 2024. This is an indication that the short-term trend is up.

The price touches the upper Bollinger Band. 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.

During the last week, the 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 83.57
Overbought
Williams' Percentage Range (W%R) 20.50
Lane's Stochastic (%D-Slow) 85.32
Overbought
Greed/Fear Indicator (GFI) 82.78
Overbought
Moving Average Converg./Diverg. (MACD) 0.27
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 59.80
Williams' Percentage Range (W%R) 51.00
Lane's Stochastic (%D-Slow) 52.89
Greed/Fear Indicator (GFI) 51.73
Moving Average Converg./Diverg. (MACD) -0.47
Trading Signals
Description Value Chart
Yearly Trendline Resistance 43.67
Upper Bollinger Band 37.74
Price 37.73
Daily Stochastic Crossing 37.63
Weekly Trendline Resistance 36.90
Parabolic System 36.26
Weekly Stochastic Crossing 36.11
20 Day Moving Average 35.75
50 Day Moving Average 35.32
Weekly Trendline Support 35.32
Lower Bollinger Band 34.28
Yearly Trendline Support 34.15
Quarterly Trendline Support 31.15
Sector and Industry
Description Name Rank
Sector Energy 9
Industry Oil & Gas Equipment & Services 27
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 34.87
Low Date 03/05/2024
High 38.15
High Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 36.90
Support 35.32
Low 33.79
Low Date 02/13/2024
High 38.15
High Date 03/15/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 32.84
Low Date 01/17/2024
High 38.15
High Date 03/15/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 29.22
Support 31.15
High 43.85
High Date 10/18/2023
Low 32.84
Low Date 01/17/2024
Description Value
Direction Up
Chart Pattern Ascending Triangle
Status Valid
Resistance 43.67
Support 34.15
Low 4.25
Low Date 03/18/2020
High 43.99
High Date 06/08/2022
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.