New bottom Trough Established for Halliburton ($HAL)Halliburton was as low as the mid-4s per share during mid-March, but with its most recent nadir, it seems to have established a low trough in the 9.5 to 9.7 range. A further fall back to under 5 per share is exceedingly unlikely with many states opening up and drilling to resume on mass-scales soon. $HAL will be the first stock to benefit from the major oil companies following it later with equivalent ascents. A December to March sell-range seems reasonable, with as high as a 500% ROI for those who got in under 5/share. It should establish value in the 20 to 25 range by the beginning of 2021, as a vital oil stock with regards to drilling and production.
With oil on the rise, this stock will begin its rise accordingly and already is after a recent fall Monday following the Fed Chairman's market scare. This is a 7 to 12 month swing trade.
