Halliburton Squeezes Toward a Breakout as Oil Rallies

Energy is coming to life again as the economy reopens. Let’s take a look at oil-field service provider Halliburton, which has a few interesting chart patterns.

First is the downward-sloping trendline running along the highs of March and April. HAL closed above that resistance yesterday for the first time.

Second notice the tight range on the weekly chart, with a bullish inside candle last week, which it’s now escaping.



Next, HAL’s MACD crossed to positive yesterday.

Finally, consider how the stock has completed an ABC correction since March.

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