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Halliburton’s stock is currently trading at 18.85-higher by 2.28% as compared to the previous closing price. In the Premarket trading session, the stock was trading lower by 1.57%. The stock has pared all of its earlier losses and turned positive after the opening bell.
The oilfield services company reported its earnings for the third quarter before the market open on Monday. Halliburton generated an EPS of 34 cents for the third quarter of 2019. The EPS was in line with market expectations. The total revenue of $5.55 billion was, however, below the consensus estimates of $5.82 billion.
Halliburton’s revenue from North America dropped 21% for the third quarter ended 30th September. The Houston-based company reported a fall in quarterly revenue, as it battled with lower demand from shale oil producers in North America, its biggest market. The oilfield services company said completion and production revenue fell 16% in the third quarter. Stocks of Halliburton have dropped 15.3% over the past three months.
On the technical front, the current price is above the MA5. The current price is below the middle line of the Bollinger Bands but is heading upwards. The RSI is currently at 47.46% and suggests that the market can move in the upward direction.
TRADE SUGGESTION- STOP BUY AT 19.00 TAKE PROFIT AT 19.32 STOP LOSS AT 18.84