Baker Hughes Company Stock Forecast

Evaluation of Baker Hughes Company stock downgraded after the last trading session.
(Updated on Apr 30, 2024)

BKR Signals & Forecast

There are few to no technical positive signals at the moment. The Baker Hughes Company stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $32.87 and $33.05. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -4.93%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss for Baker Hughes Company stock

Baker Hughes Company finds support from accumulated volume at $32.32 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.605 (1.86%) between high and low. For the last week, the stock has had daily average volatility of 2.59%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (BKR) For The Upcoming Trading Day Of Wednesday 1st

For the upcoming trading day on Wednesday, 1st we expect Baker Hughes Company to open at $32.74, and during the day (based on 14 day Average True Range), to move between $31.88 and $33.36, which gives a possible trading interval of +/-$0.740 (+/-2.27%) up or down from last closing price. If Baker Hughes Company takes out the full calculated possible swing range there will be an estimated 4.54% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $32.67 (0.15%) than the support at $32.32 (0.92%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Baker Hughes Company stock A Buy?

The Baker Hughes Company stock holds several negative signals and despite the positive trend, we believe Baker Hughes Company will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -2.345 Sell Candidate Downgraded

Predicted Opening Price for Baker Hughes Company of Wednesday, May 1, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.