HAL -- High Probability Setup!!

A

alpha1

Folks It does not get any better than this!

Haliburton is at major resistence and is bottoming out. It is hitting and going to bounce off the major trend line that goes all the way back to April 2010. It is hitting resistence at 37.70'ish area, the same area that was a high in Nov-Dec (3 candle sticks support this resistance). Not to mention it is bouncing off the 50 EMA.

Thats 3 support areas. Not to mention that stochastics show it extremely oveersold. Today was confirmation that it this support was holding.

Good Luck and Happy Trading!
 

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Almost a morning star candle formed today. HAL tried to break $41.50 $41.70 a few times. When breaks extremely bullish. All it needs it's an outperform rating upgrade.
 
last three bars show a good volume signal I use, I would go long 39 go short around 37.5, and trail it using the atr, but a big move is underway "don't love something that don't love you back" :)
 
In my humble opinion, Hali is on the verge of a break out above the 40 price level. Just have patience my amigo's and don't sell. You'll get your money with a gain. I would also set the stop loss at 37 below the the low on Monday.
 
I think others are seeing what Alpha is seeing. The stock is trading at the high for day. Bulls seem to be pushing. A breakout might indeed be in the cards.
 
Today Hali closed on 39.89 up 1.30% for the day. The candle for the day was a gapped up doji. Don't panic! This is not bad. The doji today was made on light volume and its sitting on support. Have patience stick with Haliburton this is a good entry point for anyone else.
 
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