Shares of Halliburton ( HAL) have been trading higher since August and the rally is far from over. Let's see what the charts and indicators look like now. 
In this daily bar chart of HAL, below, we can see that prices made a low and then reversed higher in August. A higher low was made in September and a higher high in October, and the uptrend was established. Traders got a buying opportunity in late November and the middle of December as prices retested the 200-day moving average line. The slopes of the 50-day average and the 200-day average are positive.
The On-Balance-Volume (OBV) line has been strong since December and tells me that buyers of HAL have been more aggressive. The Moving Average Convergence Divergence (MACD) oscillator is above the zero line in bullish territory but we see what is probably a short-term take profit signal.
In this weekly Japanese candlestick chart of HAL, below, we see a bullish picture. Prices are in a longer-term uptrend above the rising 40-week moving average line. Prices are not extended (overbought) but the recent candles suggest we could see a period of sideways price action.
The weekly OBV line shows strength from the pandemic low. The MACD oscillator is in a bullish alignment and that is why the daily signal is likely to be temporary (see above).
In this daily Point and Figure chart of HAL, below, we can see that the software is projecting a potential upside price target in the $42 area.
In this weekly Point and Figure chart of HAL, below, we used a five box reversal filter. Here the software projects a price target in the $58 area.
Bottom line strategy: Traders could probe the long side of HAL in the $35-$34 area. Risk to $31. The $42 area is our first price target with $58 longer-term.
