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Is Haliburton putting in a major double bottom?  Just maybe.  The stock extended its drop from the April peak to a 25% sell off this week. This steep decline drove shares back down to the December 2018 lows.  Today HAL is rebounding.  Its up 3.8% at mid day and is a top 5 SP 500 gainer.  Others have noticed:  CNA Financial, and lat Reinsurance Ltd. are buyers.

Highlights:  HAL has been under increasing downside pressure over the last five sessions.  Has this selling wave reached a climax just as the 2018 lows have come into play?

HAL has been tracing out a divergent low in its daily MACD indicator since the December lows.

On the downside, a close below $24.00 would be an indication that more basing will be needed before HAL is set for a substantial rebound. 

At current levels we regard HAL as a low risk buy.

At time of publication we are long HAL in some managed accounts.