Baker Hughes, third week of a buy signal under watch
Baker Hughes stock falls 3.8%, but daily higher lows hold firm
Our view last week
Baker Hughes' buy signal is holding: the week closes up 5.3% and the price is pressing right against the breakout trigger in the 65 area, where daily buyers control nearly 80% of the volume. Baker Hughes stock still deserves a watchful eye, though: on the weekly chart volumes are contracting and a distribution phase is showing through. Weekly technical analysis still points to an orderly picture, with all four structural moving averages aligned.
This week's summary
Baker Hughes stock drops 3.8% this week, confirming the caution flagged last week: volume is contracting, buyer dominance is collapsing and distribution is building. The whole industrial sector is pulling back, and much of the drop traces back to that. On the daily chart, though, the sequence of higher lows still holds: technical analysis shows a buy signal still alive, in its third week, but under watch.
IQS Phase
44
ordinary
Signal Strength
66
medium
Sizing
STANDARD
Ranking
#41 / 167
US stocks in progress
Trade P&L %
+3.06%
from signal to date, no stop loss
Rank position
ranks 41st among the 167 Longs already running for US stocks in our ranking, with a signal strength of 66 out of 100.
Sector context
SectorIndustrial
Benchmark ETFXLI
Sector regimeweak phase
Performanceweekly -3.36% · monthly +0.78%
BKR belongs to the industrial sector (reference ETF XLI). The sector is classified weak phase according to our weekly reading.
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