Halliburton Co, Baker Hughes Co, Eni S.p.A. are the ones to notice as they lead energy stocks on an uptrend.
Leading equity indices in the US declined as Nasdaq slipped 1.03% and closed at 11,000. S&P 500 shed 0.75% and closed at 3,872.
Meanwhile, United States OPEC Crude Oil Production Algeria (Barrel) released yesterday at 15:00 UTC with a figure of 1 million, while the previous figure was 1 million.
What is an uptrend?
A trend is the overall direction of a market or an asset's trading price over a certain period. An uptrend is when the price is generally pointing upwards; there can be certain periods of time when the price falls, yet the trend remains in an upward direction.
Halliburton's uptrend continues, up to $36.42: Halliburton levels up 1.31% in yesterday's session; traders eye opening bell in 6 hours time
Yesterday's session pointed in the same direction — Halliburton Co closed at $36.42 yesterday after ranging between $35.39 and $36.78. 12 days and $6.54 of gains are not enough for Halliburton. Yesterday's trading volume was 9.35 million shares which is slightly below the 21-day average of 13 million.
Halliburton is currently trading with a market cap of $33.50 billion with an average daily trading volume of 13 million shares. The past 3 months have been positive for Halliburton as it added 29.69% compared to its 3-month low of $21.15. So far in 2022, it has been outperforming the S&P 500 by 76.42%. The stock has been trending positively for about a month. Halliburton expected revenue of $5.33 billion with an EPS of 55.79 cents.
A 12 day uptrend, goes up by 20.73%: Pre-market trading leads Baker Hughes to drop to $27.31 (a 1.27% change) after ending yesterday at $27.66
On-trend Baker Hughes closed the session yesterday with more of the same: an influx of buyers helped Baker Hughes to end the session higher around $27.66, while establishing a $26.8 to $27.71 session range yesterday. 12 days and $4.33 of gains were not enough. Yesterday's trading volume was 8.71 million shares which is slightly below the 21-day average of 8.81 million.
The company has a market cap of $27.89 billion with an average daily volume of 8.81 million shares. Baker Hughes hit a significant low of $20.45 around a month ago, but has since recovered 33.2%. So far in 2022 it has been beating the S&P by 34.21%. The stock has been trending positively for about a month. Baker Hughes has a forecast of $5.44 billion with an EPS of 24.81 cents.
A 20% increase in 14 days: Risk-on sentiment allowed ENI to post 0.3% gain yesterday
Yesterday continued on the same track for ENI — generally flat but with a slight bullish bias, ENI ranged between $25.97 and $26.42 before closing higher at $26.34. ENI continues a 14 day uptrend, gaining a total of 20%. Yesterday's trading volume was 312,599 shares which is slightly under the 21-day average of 423,054.
The company's market cap is $46.40 billion with an average daily volume of 423,054 shares. Having set a significant high of $32.49 a month ago, ENI is trading 28.47% lower. So far in 2022, it has performed better than the Nasdaq by 37.06%.
ENI is scheduled to announce earnings results Friday.
A 20% increase in 14 days: Risk-on sentiment allowed ENI to post 0.3% gain yesterday
Yesterday continued on the same track for ENI — generally flat but with a slight bullish bias, ENI ranged between $25.97 and $26.42 before closing higher at $26.34. ENI continues a 14 day uptrend, gaining a total of 20%. Yesterday's trading volume was 312,599 shares which is slightly under the 21-day average of 423,054.
The company's market cap is $46.40 billion with an average daily volume of 423,054 shares. Having set a significant high of $32.49 a month ago, ENI is trading 28.47% lower. So far in 2022, it has performed better than the Nasdaq by 37.06%.
ENI is scheduled to announce earnings results Friday.