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 [< 1 min read]
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
TQ Sentiment
Report Sentiment: 60% Bullish
Technical Forecast:
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 chart for HAL
Volatility

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.

Price Action

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.

Trend

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.

Order Flow

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

Conclusion

Even though both sentiments are bullish for the next trading day, the classical technical analysis metrics are only slightly bullish while our quantitative statistics show a bullish sentiment.

Market Conditions for Halliburton Co.
Condition Forecast Direction Win Avg Worst Best Events
Close to S1 Support TQ Pro Members Only
Bearish Spinning Top TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
Bearish Intraday Reversal TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

HAL ends the day indecisive

Aug 16, 2018
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