Baker Hughes Company Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Baker Hughes Company stock downgraded from Hold/Accumulate to Sell Candidate after Tuesday trading session.
(Updated on Apr 30, 2024)
The Baker Hughes Company stock price fell by -1.81% on the last day (Tuesday, 30th Apr 2024) from $33.22 to $32.62. During the last trading day the stock fluctuated 1.86% from a day low at $32.50 to a day high of $33.11. The price has been going up and down for this period, and there has been a 1.62% gain for the last 2 weeks. Volume has increased on the last day by 5 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 9 million shares were bought and sold for approximately $287.84 million.
Given the current short-term trend, the stock is expected to rise 18.50% during the next 3 months and, with a 90% probability hold a price between $38.65 and $42.47 at the end of this 3-month period.
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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
Fair opening price May 1, 2024 | Current price |
---|---|
$32.74 ( 0.373%) | $32.62 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BKR
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 33.35 | 2.23 % | |
R2 | 33.12 | 1.52 % | ||
R1 | 32.97 | 1.08 % | ||
Current price: | 32.62 | |||
Support | S1 | 32.51 | -0.336 % | |
S2 | 32.37 | -0.773 % | ||
S3 | 32.14 | -1.48 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 33.50 | 2.70 % | |
R2 | 33.44 | 2.51 % | ||
R1 | 32.67 | 0.153 % | ||
Current price | 32.62 | |||
Support | S1 | 32.32 | -0.92% | |
S2 | 29.20 | -10.48% | ||
S3 | 28.99 | -11.13% |
BKR Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 23, 2024 | May 03, 2024 | May 16, 2024 | $0.210 | 0.644% |
2 | Feb 01, 2024 | Feb 12, 2024 | Feb 23, 2024 | $0.210 | 0.703% |
3 | Oct 25, 2023 | Nov 03, 2023 | Nov 17, 2023 | $0.200 | 0.593% |
4 | Jul 27, 2023 | Aug 08, 2023 | Aug 18, 2023 | $0.200 | 0.567% |
5 | Jul 27, 2023 | Aug 07, 2023 | Aug 18, 2023 | $0.200 | 0.567% |
FAQ
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