Company Description: Halliburton Company provides various products and services to the energy industry for the exploration, development, and production of oil and natural gas worldwide. It operates in two segments, Completion and Production, and Drilling and Evaluation. The Completion and Production segment provides production enhancement services, completion tools and services, and cementing services. Its production enhancement services include stimulation, pipeline process, sand control, and well intervention services; completion tools and services comprise subsurface safety valves and flow control equipment, surface safety systems, packers and specialty completion equipment, intelligent completion systems, expandable liner hanger systems, sand control systems, well servicing tools, and reservoir performance services; and cementing services consist of bonding the well and well casing, while isolating fluid zones and maximizing wellbore stability, and casing equipment. The Drilling and Evaluation segment provides field and reservoir modeling, drilling, evaluation, and well construction solutions that enable customers to model, measure, and optimize their well placement and reservoir evaluation activities. Its services include fluid services, drilling services, drill bits, wireline and perforating services, testing and subsea services, software and asset solutions, and consulting and data management services. The company serves national, integrated, and independent oil and gas companies. Halliburton Company was founded in 1919 and is headquartered in Houston, Texas.

Our Analysis: The shares of Halliburton Co. 'HAL' have been in a downward trend since late April when the drilling accident occurred in the Gulf of Mexico. Yesterday the shares of 'HAL' closed below a recently established downside support level on heavier than normal trading volume. This is a bearish trading signal.

I am unfortunately getting this update out a little late today due to the market turmoil. The shares of 'HAL' gapped lower on the open of trading. As a result I treated what would have normally been my 1st downside price target of $26.80/share as upside resistance, and therefore established my upside stop @ $27.19/share.

I have downside price targets of $25.74/share, which has been surpassed as of the time of publication. My next downside price target is $23.34/share, a point of downside support established on September 2nd, 2009.