The worst looks to be over for $BHGE. The debt problems at its majority shareholder $GE have been an overhang on the stock for the past year. With $GE now selling, it's time to buy $BHGE.
According to investment bank Tudor Pickering, Baker Hughes (BHGE -7.6%) share weakness presents a buying opportunity following news that GE will give up its majority stake in...
BHGE is approaching our first resistance at 27.49 (horizontal pullback resistance, 61.8% fibonacci extension, 38.2% fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 23.87 (50% fibonacci retracement).
Stochastic (55,5,3) is also approaching resistance where we might see a corresponding drop in price.
BHGE is approaching our first resistance at 27.49 (horizontal overlap resistance, 61.8% fibonacci extension, 38.2% fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 23.87 (horizontal swing low support, 50% fibonacci retracement).
Stochastic (55,5,3) is also approaching resistance where we might see...
