Baker Hughes, fresh buy signal
Baker Hughes stock gains 5.7%, bouncing off its 50-day average
Baker Hughes, fresh buy signal
Our view last week
Baker Hughes closes the week up 2.3%, with the double bottom in the 53 area holding and buyers back in control of the tape. The sell signal, live for five weeks, is losing steam even as it stays technically in force: Baker Hughes stock stays boxed between the moving-average cluster in the 56 area and the recent high in the 58 area, with earnings due this week.
This week's summary
Baker Hughes closes the week up 5.7% and bounces cleanly off its 50-day moving average, in the 59 area: the sell signal that had been running for five weeks gives way to a fresh buy signal. This week's technical analysis of Baker Hughes stock flags some caution beneath the surface, though: on the daily chart money flow stays negative and sellers still dominate the tape.
IQS Phase
41
ordinary
Signal Strength
66
medium
Sizing
STANDARD
Ranking
#8 / 16
New us stocks
Trade P&L %
+0.00%
from signal to date, no stop loss
Rank position
ranks 8th among the 16 fresh Longs for US stocks in our ranking, with a signal strength of 66 out of 100.
Sector context
SectorIndustrial
Benchmark ETFXLI
Sector regimein positive regime
Performanceweekly -1.54% · monthly -1.92%
BKR belongs to the industrial sector (reference ETF XLI). The sector is classified in positive regime according to our weekly reading.
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