Just like many stock prices in Q1 2020, the share price of Halliburton fell from $24.32 at the beginning of the year to $4.33 in the same quarter which was about an 83% loss in its value. This could have been due to the global lockdown from the Covid-19 pandemic.
In hindsight, the all-time high of Halliburton was reached in July 2014 at $74.21. Ever since the price hit that peak on the monthly chart, it has been unable to break that price to the upside. Each time the bulls trigger a rally, the bears respond aggressively and the price is pushed lower. Since the all-time high in 2014, the lowest price Halliburton has hit was the aforementioned $4.33 in Q1 2020.
Halliburton recovered fairly quickly from the Covid hit and began a bull run at the beginning of April 2020. This rally lasted for two years hitting a high of $42.54 in April 2022. In other words, from the lockdown low to this current high, Halliburton has experienced at least 9X in return. The last time Halliburton’s share price hit the current high of $42.54 was in October 2018.
After the high of $42.54 in April 2022, the price fell to reach $33.30 in May 2022. A bounce occurred afterward as the price was able to rally to $42.12 which was on May 31, 2022. There are indications that the bears might push the price lower to $34.
Some of these ideas are in our clients’ portfolios. To understand if this one can work for you or for help to invest your own wealth, talk to our advisors at FM Capital Group. Would you like more information on how to get stocks in your portfolio? Schedule a meeting with us here