• Subscribe
  • Log In
  • Home
  • Daily Diary
  • Asset Class
    • U.S. Equity
    • Fixed Income
    • Global Equity
    • Commodities
    • Currencies
  • Sector
    • Basic Materials
    • Consumer Discretionary
    • Consumer Staples
    • Energy
    • Financial Services
    • Healthcare
    • Industrials
    • Real Estate
    • Technology
    • Telecom Services
    • Transportation
    • Utilities
  • Latest
    • Articles
    • Video
    • Columnist Conversations
    • Best Ideas
    • Stock of the Day
  • Street Notes
  • Authors
    • Bruce Kamich
    • Doug Kass
    • Jim "Rev Shark" DePorre
    • Helene Meisler
    • Jonathan Heller
    • - See All -
  • Options
  • RMPIA
  • Switch Product
    • Action Alerts PLUS
    • Quant Ratings
    • Real Money
    • Real Money Pro
    • Retirement
    • Stocks Under $10
    • TheStreet
    • Top Stocks
    • TheStreet Smarts
  1. Home
  2. / Investing

Raising HAL

Shares of Halliburton have the energy to make new highs, according to the charts.
By BRUCE KAMICH
May 26, 2022 | 03:43 PM EDT
Stocks quotes in this article: HAL

Halliburton Co.  (HAL)  services the energy industry. In our March 18 review, we wrote that "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."

 
Prices reached our $42 price target in April and have since made a correction, while staying above our stop recommendation.
 
Let's review the charts again.
 
In this updated daily bar chart of HAL, below, we can see the rally into April followed by a correction below the 50-day average line but now back above it. Trading volume declined on the pullback and old-time chart watchers like that development while the math-driven On-Balance-Volume (OBV) line has actually risen this month to a new high. The new high in the OBV line is foreshadowing a new price high I believe. The Moving Average Convergence Divergence (MACD) fell below the zero-line for a sell signal but has quickly reversed that earlier signal. The oscillator is bullish now.
 
 
In this weekly Japanese candlestick chart of HAL, below, we see a positive picture. Prices are in a longer-term uptrend as they trade above the rising 40-week moving average line. The latest candles show a bottom reversal pattern. The weekly OBV line has been rising for more than two years and suggests we will see higher prices in the weeks ahead. The MACD oscillator has crossed to the downside for a take-profit signal, but remains well above the zero-line.
 
 
In this daily Point and Figure chart of HAL, below, we can see a new upside price target in the $47 area.
 
 
In this weekly Point and Figure chart of HAL, below, we see a price target in the $54 area.
 
 
Bottom line strategy: Traders who are long HAL should continue to hold those positions and can add to longs at current levels. Risk to $33 now. $47 is our first price target with $54 after that.
Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.

Employees of TheStreet are prohibited from trading individual securities.

TAGS: Investing | Technical Analysis | Energy | Oil Equipment/Services

More from Investing

Here's a Brokerage Firm With Bullish Charts

Bruce Kamich
Feb 7, 2023 10:08 AM EST

We have a new price target.

Wary of What's Ahead With the Fed, China and 0 Days to Expiration Options

Peter Tchir
Feb 7, 2023 10:00 AM EST

All three stand to impact the markets, with the last of the trio potentially swinging market sentiment wildly from day to day.

Xylem Posts an Earnings Beat: Time to Test the Waters?

Bruce Kamich
Feb 7, 2023 9:30 AM EST

Let's check out the charts of this water technology company to see how the short and long-term are shaping up.

Hot for AI Stocks? Try This Intelligent Approach to Artificial Intelligence

Bob Byrne
Feb 7, 2023 8:30 AM EST

Rather than get burned by issues with suddenly inflated prices that eventually could crash back to earth, go with tried-and true-names in technology development.

Can Pfizer's Charts and Fundamentals Get on the Same Page?

Bruce Kamich
Feb 7, 2023 8:15 AM EST

The pharmaceutical giant gained an analyst's buy recommendation but its technical signals are lackluster at best.

Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation. If you have questions, please contact us here.

Email

CANCEL
SUBMIT

Email sent

Thank you, your email to has been sent successfully.

DONE

Oops!

We're sorry. There was a problem trying to send your email to .
Please contact customer support to let us know.

DONE

Please Join or Log In to Email Our Authors.

Email Real Money's Wall Street Pros for further analysis and insight

Already a Subscriber? Login

Columnist Conversation

  • 08:22 AM EST REAL MONEY

    LIVE EVENT: Bruce Kamich and Todd Campbell Share Their Stock Market Insights

    This Monday, Feb. 6 at 12 p.m., our very own exper...
  • 02:58 PM EST REAL MONEY

    Sarge Guilfoyle Breaks Down the Jobs Report, Fed Policy and Stocks!

    Watch it here!
  • 11:35 AM EST JAMES "REV SHARK" DEPORRE

    This Weekend on Real Money

    Trading an Irrational Market
  • See More

COLUMNIST TWEETS

  • A Twitter List by realmoney
About Privacy Terms of Use

© 1996-2023 TheStreet, Inc., 225 Liberty Street, 27th Floor, New York, NY 10281

Need Help? Contact Customer Service

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.

Compare Brokers

Please Join or Log In to manage and receive alerts.

Follow Real Money's Wall Street Pros to receive real-time investing alerts

Already a Subscriber? Login