The decline slows but doesn't stop
Halliburton sheds 3.3% as distribution stays heavy and the ADX fades
The decline slows but doesn't stop
Our view last week
Halliburton's bounce off the double bottom in the 32 area has stalled: this week the stock gives back 5.3%, with sellers back to 72% of volume and money flow turning more negative. Our Halliburton technical analysis still reads bearish, even as the ADX starts losing bite: earnings are now behind it, but the risk isn't over.
This week's summary
Halliburton's decline keeps going: the stock sheds 3.3% this week, after last week's -5.3%. Volume is rebalancing, though — sellers drop from 72% to 46% — while the daily chart still shows a strong distribution phase. In our Halliburton technical analysis the sell signal has been under management since its 7th week, with the short at +7.7%: the ADX keeps losing bite, yet momentum is accelerating to the downside.
IQS Phase
63
ordinary
Signal Strength
62
downtrend making lower lows, pace holding
Sizing
STANDARD
Ranking
#7 / 138
US stocks
Trade P&L %
+7.67%
from signal to date, no stop loss
Rank position
ranks 7th among the 138 sell signals for US stocks in our ranking, with a signal strength of 62 out of 100.
Sector context
SectorIndustrial
Benchmark ETFXLI
Sector regimein positive regime
Performanceweekly -1.54% · monthly -1.92%
HAL belongs to the industrial sector (reference ETF XLI). The sector is classified in positive regime according to our weekly reading.
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