Halliburton Trending with $USOIL; Throw out Fib. Points? LONG!

Aug 5, 2020

The long-awaited push past 43 per barrel now has taken place for oil, which renders key oil industry cog Halliburton on the rise. FIB Tracement shows a sell-point at 15.7, but tracing growth curves Halliburton should probably encounter precious little resistance until it goes 16+ per share: At that point, there is the first exit for a swing on this -- Though, this trader is staying in until 20+ as it should recapture January levels as oil trading resumes to normalcy. The original sell-window on that hovered around late 4th Quarter, but it might not be realized until late in the 1st Q of 2021, or even mid-way through the 2nd quarter. The sell-point @ 15.7 will still represent an enormous profit for those who entered near the March low at just 5 per share. Taking a 300+% profit is fine, but there is a longer play here that should have no issues coming to fruition.

HAPPY TRADING!

-BDR

Post note: See related idea (July 15) which was kind of a final "all call" to "long" HAL. That said, it's really still **NOT** too late. Good luck!

Aug 5, 2020

Note

Of note: It was rejected just before the FIB point @ 15.7. This reminds us, once again, to trust graphical harmonics over long-term "feelings." That said, the short on this isn't substantial enough that a repositioning made any sort of "massive gains" on holdings and/or profits.