#SPX#DJIA: Trade Ideas Off Of Recent Moves #CorrelationTradesMany stocks to take advantage of in this environment.
I'll be posting many trades throughout the day.
Tom
HAL trade ideas
Halliburton: Looking Good For A Very Promising Short!Friends,
We are in key levels for a short from this level. With oil prices lowering among other factors, HA is fundamentally and technically armed for a promising short to the downside. Confluences tend to work on this stock, and have had good moves in confluence situations in the past.
Very promising indeed. There may be a flag set up occurring also, giving us an extension target, but I will leave this up to you traders to make your own target selection(s).
Best of luck,
Tom
HALMight want a bit lower to put in a nice SHARK. Would be an interesting move as stops based on previous pivot are likely right above
Halliburton: Nice ABCD Pattern Right At A Major Moving AverageFriends
Found a lovely ABCD pattern, right up at the 200EMA
1.We have an ABCD pattern
2. The pattern stalls, at the extension where expected. We also discover this is right where the 200EMA is currently at as well.
3. We have indecision candles at the ABCE D extension and at the 200EMA level.
4. We have a left/Right combo, showing the bulls are getting out the way at the moment.
5. We have a nearby localised support, where you can short to a very high probability if the level is broken
6. We have an inconspicuous, yet long term stochastic bearish divergence.
Thanks guys
Regards,
Tom
$HAL - Upside breakout potential PT @ $55 + Fundamentals/OilFibonacci Retracements point to a continued rally for HAL given the recent uptick in commodity prices.
I'm looking for a breakout to $52 (38.2 Fib Retracement), pullback to $48 (23.6 Fib Retracement), at which point i'm buying with a price target of $55 (50% Fib Retracement).
Could go higher, but the upside will be relatively capped given the level of the current US fracklog . Once prices justify completing and turning on these backlogged wells, it will cause the E&Ps to turn on the spigot, again pushing supply to a point where prices will have to react . (There is headline risk given potential Iran deal and capacity issues at cushing)
On a fundamental level, the recent divestiture of assets in concert with the baker hughes merger should be a long term positive for the company. I'd also look for them to further consolidate once the deal goes through as some smaller oil/gas service companies will start to feel the financial stress of the downturn during this time. Many of them operate in the more marginal areas of the shales/basins resulting in a higher breakeven cost given an expected return of about 10%. I'd also look for
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Long HAL This was indeed an extremely complex correction with two expanding diagonals forming the impulse waves and and a triangle as the B corrective wave. IF the upper trendline of the C wave is broken, we can see a resumption of prices to the upside till the entire month is completed. Trade well.
Cheers.
Stable Oil Prices Sets Up Well For Halliburton Near-TermThe stabilization in energy prices lately has meant relief in some oil & gas stocks. Halliburton shares have been one of them, putting in a series of higher lows since mid-January. The pullback in the previous two weeks sets up for a low risk buying opportunity (stop loss under $41.90). HAL is now poised to fill the gap from November ($46.70-$47.50 range) in the coming months with near-term resistance at $45.
Options Trade Idea : Sell the Mar 20 $41/$42 bull put spread for a $0.23 credit or better (still using the $41.90 level as a stop loss reference to minimize risks). Look to take profits at $0.05 credit and/or a move to $45 in the stock.
Halliburton Technical Analysis: Short-term Rebound!Halliburton Technical Analysis
- The price completed a double bottom formation
-50-days SMA breakout
-Trend line breakout
-Earlier bullish divergence on RSI momentum
Potential first upside target could be near 47.80-48.00 resistance area.. 41.00 level could be the invalidation level for this idea.
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Halliburton Bottom Weekly candle chart....
Halliburton obviously has a large exposure to crude oil prices (see my publication "Crude Oil Bottom"), so a bottom in crude should correspond to a bottom in HAL.
The almost 7 year support line has held to date and provides an added element of safety.
HAL underwent a perfect fibonacci retracement. In this case the retracement was the "grand-daddy" 61.8% retrace, also know as the golden ratio.
Notice the weekly MACD, which is in the process of a bullish cross.
Although HAL has a relatively low dividend for the energy sector, the P/E looks very attractive; a buy from this level will likely yield a significant and rapid profit.
HAL, DXY, OIL FUTURES, AND IWM 2008 and NOWSo many similarities remain from 2008 and now, have to say them, and play them...
Oil started to crash, HAL its economic representative did also, and the dollar jumped upward historically, gold plunged.
Preceeding all that was a very nice ABC wave, and the same happened in 2011, and the same happened before this last bull run.
Then we went down hard in a clear ABC, as he dollar headed up, the markets lagged a bit, then turned down.
Remarkable how the B of the abc uptrend coincides with the C of the abc downturns. and both of these pivot points coincide with the long term support lines, which were broken at C. I have offset the most recent ABC down so you can see the chart lines.
The thin red vertical lines represent where we are now, and were we were in 2008 that relates to now.
Note the MACD has room to run lower (for HAL) as well as the RSI.
If you measure the AB and CD legs of these moves, HAL should , if we repeat 2008, head toward D as shown.
I believe we are in the green circles now, and NOTE the red triangle hard V, both just recently and 20087, right before the markets crashed. There have not been that many hard V's over the past 15 years, and these two seem to be the most pronounced and the up leg is straight as an arrow. I believe this last V pivot was simply because of algoryhtmic trading, because we reach the long term trend support line, and wammo, bounced right on que. However, Oil is having its own ideas and its say.
So unless something different happens, and opec decided out of character to cut, we go lower. And the markets have to follow at some point.
Heard Cramer say after this last employment report, being so good that there are no more hurdles or events to drag the markets down until after the new year, not even a government shut down from the budget funding battles. He says its happy sailing for the next 30 days at least. I say, he's a fool. There is way too much turnmoil everywhere, and all it takes is one idiot from one of the many groups protesting whatever, in whatever country (take your pic), to set off something that strikes fear to the markets. Jamie Diamond said, the thing that keeps him up at night is the thing that he cannot see coming, to wreck the ship.
The EURUSD wants to go higher, and has been held down way too long. The dollar could go higher, and if oil keeps on sliding it will until its inevitable doom, and crash lower with the rest of world wide assets, and it may be the last to fall. Heck, the dollar could also crash come Monday too, not sure.
There is way more I could say, but the chart says it all for now. How can you look at this and not say it has some merit.
I called for HAL to reach 40 a while back and it has. Made a few bucks on those nice moves (12X). I laid in some calls to retest 47, and decided to bail on that, glad I did. HAL (and CAT) should have retested, and THEY DID NOT! If oil were to bounce here, the bull might still have some legs, but I don't think it does, and we head at least down, maybe to the IWM new channel support trend line. The dollar could go higher, and jobs could increase, but since the FED knows they CANNOT RAISE RATES, wage inflation kicks in way sooner than anyone thought, heck its already kicking in now, that GOLD senses it and pops, and the markets smell it quick, and the bull is abandonded, selling to save the great profits earned during the run.
Safe trading everyone. These are just my opinions, for what they are worth.
HAL at a moment of decisionThe entire oil industry has reached a pivot point. We have long term trend support (red), shorter term trend support (blue), horizontal supports (major - purple). To say I am watching this carefully is an understatement. Oil has still room to run lower, perhaps to 67-68 per barrel, and if that does happen, HAL breaks its major support here, and heads toward one of the longer term support lines. But it also could go sideways, and also in fact bounce. Watching the Opec news, etc. Also, watching the USDJPY and IWM action. NOT a coincidence they are acting alike right now.
Struggling to break backWe have 2 head & shoulder in this uptrend channel all the way up from Jul 2013!
Now, ever since HAL broke down from the uptrend channel, it has been struggling to break back above the channel.
With major indices in US so strong, HAL is not making progress, if the challenge to blue region is not successful and get rejected, we going to see another leg of plunge
Blue line is my anticipation of price movement
