Tomorrow, we’ll kick off the week with a pre-market earnings report from Halliburton (HAL). From a swing standpoint, the daily chart is extremely attractive and a good report could propel HAL out of its bull flag just above horizontal support. Energy stocks have been relatively strong lately and I think we’ll see impressive earnings from HAL and others considering oil prices were over $100 during a good span of Q2. NOTE: make sure you know when these companies report so you’re not over exposed into their announcements.
Other energy stocks technically favorable:
BHI – nice consolidation pattern looking to setup for a move out to the upside.
HLX – trading range is tightening up with strong horizontal resistance just above. Looks good for possible break on backs of strong HAL earnings.