USA - Halliburton pivoting at $36. Should you buy it?

Investors are looking for companies that gain in times of war. Halliburton Company ( NYSE:HAL ) is among the entities whose shares gain under such circumstances. True to this observation, the share price of HAL is at $36 and rising.

Halliburton is an industrial complex charged with maintaining oil and gas infrastructure. Ukraine is a major conduit for oil and gas from Russia to the rest of Europe. As the war rages on, there will be the need to maintain the infrastructure in Russia, Ukraine, and Europe.

The sanctions on Russia also mean that other oil producers will need more field support as they possibly ramp up production. These developments translate to a good year for Halliburton.

Halliburton pivoting at $36 and rising

Halliburton is pivoting at a price of $36 with an upward trend to find the resistance around $50. The change in price direction is supported by various indicators. For the first time since 2019, the MA 50 is rising above MA 200, signaling an end to a long duration of price suppression.

The RSI is trading above the SMA 14. Though close to 70, the RSI does not indicate any signs of changing direction. The MACD is still bullish and the divergence from the signal is still positive. The patterns are indicative that, with certainty, Halliburton will continue appreciating in the foreseeable future.

Summary

Halliburton emerges from the pandemic challenges with new opportunities to maintain oil and gas infrastructure in Russia, Ukraine, and Europe. The share price has already picked the rhythm and is rising. We project Halliburton gaining to $50.

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