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Recent 52-Week High Exceeded in Shares of Halliburton (HAL)

Published on Fri, 02/01/2013 - 15:21
By Peter Chu

Shares of Halliburton (NYSE:HAL) traded at a new 52-week high today of $41.13. This new high was reached on below average trading volume as 7.7 million shares traded hands, while the average 30-day volume is approximately 11.1 million shares.

Halliburton share prices have moved between a 52-week high of $41.13 and a 52-week low of $26.28 and are now trading 56% above that low price at $41.04 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.4% while the 200-day MA has risen 0.5%.

Halliburton Company provides energy services and engineering and construction services, as well as manufactures products for the energy industry. The Company offers services and products and integrated solutions to customers in the exploration, development, and production of oil and natural gas.

There is potential upside of 15.3% for shares of Halliburton based on a current price of $41.04 and an average consensus analyst price target of $47.33. The stock should find initial support at its 50-day moving average (MA) of $35.20 and further support at its 200-day MA of $32.98.

By Peter Chu
pchu@fnno.com