HAL Stock Is About To Tank
InTheMoneyStocks.com | Jul 01, 2016 03:09AM ET
Halliburton Company (NYSE:HAL) has rallied for is third day in a row. The stock is currently trading at $45.25 +0.65 (+1.50%). There are many bulls on board but they are all wrong. The stock is set to fall sharply in the next few weeks, collapsing to a probable target of $37.25. Below are the reasons this stock will collapse starting from its current level.
- HAL making lower highs.
- Price into key resistance trend line
- Oil weak and more downside likely on the commodity.
- Halliburton $HAL is still 65% above its 2016 lows.
- Daily three bar surge usually signals near term exhaustion.
The bottom line is, Halliburton Company (NYSE:HAL) has a chart that signals major downside in the next few weeks. Smart moving is selling while dumb money is buying. Don't be the dumb money.
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