One of the world's leading providers of oil-related services, Halliburton Company, has published a net profit for the fourth quarter of $ 921 million against $ 605 million a year earlier.

For 2011, the company posted a turnover up 38% to $24.8 billion. These increases are largely attributable to strong results in North America, with strong activity in natural gas and unconventional oil, partially offset by the effects of geopolitical events in North Africa. The company is trading at a moderate level as shown by the ratio “enterprise value/revenue” at 1.13x.

In daily data, the last bearish gap has been filled and the stock continues to fall. Besides the short-term trend is bearish and indicators are in oversold situation. This technical configuration leads one to suppose that the share will reach its long-term support in the next sessions for a new impetus.

In this context, investors could take a long position at USD 30.5 long-term support. The target price will be USD 36.5 and USD 38.5 for a second objective. However, we suggest a stop-loss at USD 28.6.