When Halliburton (HAL) Moves Investors should Listen

August 04, 2022, 00:00 am ET, BY Neal- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

How do we know what is going on #behindthescenes of a company?  According to Stock Traders Daily, a 20-year #financialindustry innovator, the best way to do this to to watch the price action in the stock. The  Halliburton (NYSE: HAL) report below is a real world example. Included are trading plans for HAL, but this report is static. If you want an update, or a different stock, please get one here Unlimited Real Time Reports. 

Longer Term Trading Plans for HAL

• NONE. Details

There is no current Support Plan to trigger a buy of this stock at this time. This usually means that there are no clear support levels at this time, so buying the stock as it falls could be considered catching a falling knife. Buy signals only exist if resistance breaks higher.
This often is a signal that the stock you are watching is weak. Waiting for a turn higher may be more intelligent than trying to catch a falling knife. In any case, new support levels are usually revised to the database at the beginning of the next trading session.

• Short HAL under 32.93, target n/a, stop loss @ 33.03 Details

The technical summary data is suggesting a short of HAL as it gets near 32.93, but the downside target is not available from the current data. This tells us to hold that position if it is triggered until a new downside target has been established (updates occur at the beginning of every trading session) or until the position has been stopped. The summary data tells us to have a stop loss in place at 33.03. 32.93 is the first level of resistance above 28.43, and by rule, any test of resistance is a short signal. In this case, if resistance 32.93 is being tested, so a short signal would exist.

Swing Trading Plans for HAL

• Buy HAL slightly over 29.41, target 32.93, Stop Loss @ 29.33 Details

If 29.41 begins to break higher, the technical summary data tells us to buy HAL just slightly over 29.41, with an upside target of 32.93. The data also tells us to set a stop loss @ 29.33 in case the stock turns against the trade. 29.41 is the first level of resistance above 28.43, and by rule, any break above resistance is a buy signal. In this case, 29.41, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short HAL near 29.41, target 27.97, Stop Loss @ 29.49. Details

The technical summary data is suggesting a short of HAL if it tests 29.41 with a downside target of 27.97. We should have a stop loss in place at 29.49 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 29.41, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for HAL

• Buy HAL slightly over 29.14, target 29.41, Stop Loss @ 29.07 Details

If 29.14 begins to break higher, the technical summary data tells us to buy HAL just slightly over 29.14, with an upside target of 29.41. The data also tells us to set a stop loss @ 29.07 in case the stock turns against the trade. 29.14 is the first level of resistance above 28.43, and by rule, any break above resistance is a buy signal. In this case, 29.14, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short HAL near 29.14, target 28.17, Stop Loss @ 29.21. Details

The technical summary data is suggesting a short of HAL if it tests 29.14 with a downside target of 28.17. We should have a stop loss in place at 29.21 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 29.14, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

HAL Ratings for August 04:

Term →	Near	Mid	Long
Rating	Strong	Weak	Strong
P1	0	0	32.93
P2	28.17	27.97	38.24
P3	29.14	29.41	43.85

Support and Resistance Plot Chart for HAL

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