Today, I am going to be analyzing the stock of Halliburton Company (NYSE:HAL). On January 27th, a new red monthly Trade Triangle appeared, the first in 12 months for the stock. This indicates a significant technical development and changes the outlook and direction of Halliburton.
Today's in-depth analysis is not to say the stock is going to collapse and go out of business, but rather I am noting a confluence of certain technical indicators that do not paint a positive picture for this stock.
There is an old adage in trading and it says "they slide faster than they glide." Translated that means stocks go down a lot faster than they go up.
What Does This Company Do?
Halliburton Company provides a range of services and products for the exploration, development, and production of oil and natural gas to oil and gas companies worldwide.