Halliburton looks ripe for a reversal here, after oil has dumped to $23 & the stock market has tanked HAL has touched all the way down to massive historical support and rejected. Buyers have sent the stock from the low $4 level back up close to $8 in a matter of 2 days, The 200 ema on the monthly is around $34 and seems to me like maybe another touch down to $4 b4 lift off back to $35 maybe even $55. The R/R seems really good for a long here and I may just take a shot.
My plan was to wait till Monday after the Witching Hour this Friday to see for a possible double bottom but I may just buy in tomorrow. Depends on how the markets react, for now I am just watching but anxiously waiting for a chance to catch this knife, I also don't want to be too greedy. $7 --> $35 is a nice 80% gain.
My plan was to wait till Monday after the Witching Hour this Friday to see for a possible double bottom but I may just buy in tomorrow. Depends on how the markets react, for now I am just watching but anxiously waiting for a chance to catch this knife, I also don't want to be too greedy. $7 --> $35 is a nice 80% gain.