The bullish DailyPlay we chose for Thursday, July 18th is Halliburton (HAL). HAL is part of the Energy Sector (XLE). XLE has rallied 1.46% higher over the past month but its 1m and 6m trend turned bearish yesterday and just bounced lower off its $64 resistance level.
Halliburton’s 1m and 6m trend turned bearish on July 15th and recently bounced lower off its $24 resistance level. With a technical score of 2 (out of 10), HAL is a weak stock that will likely continue lower.
As a stop loss, if HAL was to trade below $24 for multiple days, this would invalidate our analysis and suggest getting out of the trade.