The Pairtrade Finder analytic generated a signal to purchase Haliburton and Sell/short Tenaris SA. Both companies are oil service giant. There was news reported on Tuesday that Tenaris believed that the jobs it will be creating in Texas will allow them to still import steel for their products into the United States.
The watchlist shows the levels to enter the trade, as the stretch reached 2.7 standard deviations below the 100-day moving average.
The backtest of the two stocks shows that over the past 3-years 7-signals were generated with a stretch of 2.7 standard deviations for an entry criteria,
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