HAL ends the day on a bullish note closing near the high of the day


Halliburton Co. (HAL) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team

Highlights

HAL closes above its opening price after recovering from early selling pressure
HAL ends the day on a bullish note closing near the high of the day
HAL closes within previous day's range

Overview

HAL ended the week -0.26% lower at 41.94 after gaining $0.43 (1.04%) today. Trading up to $0.30 lower after the open, Halliburton Co. managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily Candlestick Chart (HAL as at Aug 10, 2018):

Daily technical analysis candlestick chart for Halliburton Co. (HAL) as at Aug 10, 2018

Friday's trading range was $0.75 (1.81%), that's slightly below last trading month's daily average range of $0.91. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being slightly below average.

After moving lower in the previous session, the stock managed to close higher but below the prior day's open, forming a bullish Harami Candle.

Though the share is experiencing a short-term up trend, this could just be a correction, as both the medium and long term trends are still in negative territory.

Buying might accelerate should prices move above the close-by swing high at 42.47 where further buy stops could get triggered.


Market Conditions for HAL as at Aug 10, 2018

Loading Market Conditions for HAL (Halliburton Co.)...
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