HAL has been a pet for this trader (Those who are already following yours truly have surely noticed), and the time to re-enter and ride Halliburton has arrived again. A partial re-entrance was made at 15.99 / Full entrance will be here at 16.20. The last EXIT was at 16.55; substantial gain before a retrace that we all just saw.
The next exit will be eyed at the 17.12 mark; further evaluation of the harmonics to come when it reaches that Fibonacci point, as well.
USOIL climbed past 43/bar while HAL lingered (even decreasing) - the delayed GAINS now are being reeled in. This is still the same MASSIVE CORRECTION that I first entered at 5.09 per share in mid-March. Since that point, we have over a 300 percent correction with a bit more to come. The final-point to "stop toying with" HAL will come around 21 per share; that could be a ways away-- projections of that nature are fairly useless unless someone is taking a mega-long call, and even still, there is too much room to even worry about that mark yet. For now, a re-entrance at 16.2 is fine --> The move to 17.12 will gain 92 cents per share on the position!
RECAP of Halliburton plays:
HAL 1st Entry was @5.09 per share
HAL 1st Exit was @12.81 per share
Hal 2nd Entry was @ 12.7 per share
Hal 2nd Exit was @ 16.55 per share
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Hal 3rd Entry is @ 15.99, and fully in 16.20 (Avg cost 16.065)
Hal Potential 3rd Exit @ 17.12 -- Alert set!
HAPPY TRADING, and this time again: MAY THE ODDS BE FOREVER IN YOUR FAVOR!
--BDR
Note
Adjusting Exit to 17.3; despite down-day for HAL Monday trading session.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.