Halliburton Company (HAL) is a provider of services and products to the upstream oil and natural gas industry operating under two divisions: the Completion and Production segment and the Drilling and Evaluation segment. The stock is currently trading around $39.92 at the lower end of its 52 week range of $37.21-$74.33. The stock has been performing in line with the market this year rising 1.53% year to date. HAL is scheduled to report earnings before the opening bell on Monday, and the stock is bearish today falling by $0.14 or 0.35% on the session ahead of the close.

Over the past 12 quarters HAL has rallied on earnings day 9 times with an average move of 3.19%. The stock appears bearish on a chart going into the release having traded below the Ichimoku Cloud for the past month since mid-June on the daily bars. Over the past 12 quarters HAL has rallied from earnings to the nearest options expiration 10 times with an average move of 4.51%. The stock looks as if it could reverse today’s trend and rip to the upside in today’s session receiving support at the $39.66 venom line. Investors are expecting to see a continued trend of beating earnings. In the past few quarters the company has performed primarily due to robust contracts and new technologies while expanding its international footprint.

The options market is currently implying a move of around $1.75 or 4.4% in HAL by this Friday’s close giving us targets of $38.17 and $41.58.

Andrew Keene

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