2waytrading
Short

$BHI Rally seems over: time to sell short the stock

NYSE:BHI   BAKER HUGHES INC
88 0 1
DCC bearish pattern that formed in June seems reliable and is very common to see rebound that may not sustain as we have seen end of June and early July. Price violated the ascending support trendline couple of times, but bounced off below it, and could not push higher prices from June's high. Any upside pop up is an opportunity to initiate a short position with target price $67. if u decide to take a short position, make your stop recent swing high at and around 75.65-$76. No position, but may start a new one next few sessions.
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