US equity market was closed on Monday in observance of Memorial Day. Sales of new homes rose in April and the stock of the houses jumped to a three and a half year high, but the market did not seem to clearly gain steam on Friday. With Core Durable Goods Orders due on Tuesday along with CB Consumer Confidence, market might turn out to be positive if it supports the overall sentiment in the past few weeks.
RecommendationBuy Above $65.11
Halliburton Co is overall in bullish trend and is sustaining at higher levels on chart. Traders can
buy the stock above the level of $65.11 which is a near term resistance level for the stock, and if it
manages to breach this level further bullish movement is expected in this stock to test the levels of
Stock is in consolidate trend for near term and price is taking support from trend line with a
formation of flag pattern on daily intraday chart. Near term breach of resistance level of $65.11 is
expected, which would result into bullish sentiment in the stock to test the levels of $67.50.
RSI is trading with positive bias and in MACD signal line is about to cross above MACD line
which is indicating the supportive bullish sentiment in the stock.