The bearish DailyPlay we chose for Tuesday, Aug 14th is Halliburton (HAL). HAL is part of the Energy Sector (XLE). Over the last month, XLE has experienced a 2.53% move lower and its 1m and 6m trend turned bearish on 8/8 and recently broke below its $75 support level.
Halliburton’s 1m and 6m trends turned bearish on 7/11 and recently bounced lower off its $42 resistance level. With a technical score of 2 (out of 10), HAL is a bearish stock that will likely continue trending lower.
As a stop loss, if HAL was to trade above $42 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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