Home Sectors Energy Halliburton Squeezes Toward a Breakout as Oil Rallies: Chart Study

Halliburton Squeezes Toward a Breakout as Oil Rallies: Chart Study

By

-

May 4, 2021

171

Energy is coming to life again as the economy reopens. Let’s take a look at oil-field service provider Halliburton , which has a few interesting chart patterns.

First is the downward-sloping trendline running along the highs of March and April. HAL closed above that resistance yesterday …

For more, please click here to view the related idea and chart analysis on TradingView.

Halliburton (HAL), daily chart, with key patterns, courtesy of TradingView.

IMPORTANT INFORMATION:

Market Insights, its pages and content are hosted by TradeStation Group, Inc.

TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under theTradeStation brand and trademark. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means.

Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, including the document titled Characteristics and Risks of Standardized Options if you are interested in trading equity or index options. Online trading is not suitable for all investors. System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors.

Chart of the Day: Carnival Pushes a Key Level

Are Buyers Pivoting Away From Tech as Stocks Break Out?

Semiconductors Led Tech Higher in May as Earnings Beat and Inflation…

Stocks Fight Higher as Nvidia Drives Artificial Intelligence Rally on the…

Chart of the Day: Carnival Pushes a Key Level

Chart of the Day: Micron Pulls Back After Breaking Out

Options Alert: Call Volume Grows as Salesforce.com Nears Highs

Technical Analysis: Amazon.com Could Be Struggling After Uncertain Guidance

Attention Fed Watchers: 4 Reasons Why April’s Inflation Report Could Be…

Rate Fears and Bank Failures Have Sent The Stock Market on…

Fear Could Be Evaporating After Another Cool Inflation Report

Art of TradeStation: Getting Ready for Earnings Season

Positives Build Amid Debt Ceiling Wait: Market Trends This Week

Here’s a Way to See Price Action More Clearly on the…

Inflation Cools as Market Hopes for Debt Ceiling Resolution: Market Trends…

Double Top Before the Debt Ceiling? Market Trends This Week

Halliburton Squeezes Toward a Breakout as Oil Rallies: Chart Study

MOST POPULAR

Rolling Options: Key Things for Traders to Know

Quadruple Witching Dates for 2023: How Can They Impact Stock and...

Is Tesla Overvalued? Check Out These Stunning Comparisons to GM and...

Chart of the Day: Carnival Pushes a Key Level

TAKE ACTION

Cryptocurrencies Score Gains as Payment Giant Enters Market

Bitcoin Rips Higher on Square News

Choppy Price Action Is Still the Trend in Cryptocurrencies

Banks Cling to Support Ahead of Stress Test

Reuters: Hedge Funds Expect Crude Oil Rally

WTI Crude Oil: Futures Contract of the Week