Sell signal in management, fourth week
Baker Hughes drops 2.8%: the Sell signal bites back after the bounce
Sell signal in management, fourth week
Our view last week
Baker Hughes stock jumps 9.1% this week, the sharpest bounce since its sell signal began: price is back within a step of the Inversion Point, in the 59.7 area. In this week's technical analysis, signal strength — which was climbing on lower lows last week — is now giving ground, a decline running out of steam. The signal has slipped from 18th to 42nd among the 137 US sell signals.
This week's summary
Baker Hughes' Sell signal is now under management in its fourth week, with the short a little above 4% in profit. Last week's surprise 9.1% bounce, the sharpest since the decline began, had carried price back within a step of the Inversion Point; this week the rebound stalled and the stock gave back 2.8%, with sellers turning firmly dominant again. Price stays boxed between a cluster of moving averages near the 56 area and the 7-day high near the 59 area, still without a clear direction.
IQS Phase
81
in tension / maturity
Signal Strength
8
decline losing steam
Sizing
MINIMUM
Ranking
#106 / 140
US stocks
Trade P&L %
+4.21%
from signal to today
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