The Baker Hughes Company (BKR) has risen by +9.84% so far from its previous close but technically this post earnings euphoria should be short-lived. The long-term chart of the 1W time-frame speaks by itself. The stock is being rejected on a Lower Highs trend-line since June 2008. The latest rejection (March 2022) is basically repeating the pattern of July -...
On the bigger picture I want to say this is an inverse head and shoulders. Pay attention for this to break further to the upside. With oil prices rising $BKR supplies rig companies with the equipment to operate. CHART LEGEND: white dashed lines = bull/bear takeovers blue lines = call targets yellow lines = put targets red line = danger zone orange lines = trend...
Hi everyone, Yurii Domaranskyi here. Let's take a look at the chart: NO TIME TO DESCRIBE, AN ENTRY POINT NOW! Potential risk/reward ratio = 1 to 5.1 meaning that potential risk 100$ with the possibility to make 510$ If it does make sense to you, press a thumb up! 👍
Hi everyone, Yurii Domaranskyi here. Let's take a look at the chart: NO TIME TO DESCRIBE ENTRY POINT NOW Potential risk/reward ratio = 1 to 13.5 meaning that potential risk 100$ with the possibility to make 13.5$ If it does make sense to you, press a thumb up! 👍
I am bearish on BKR due to the formation of this scythe like pattern, when they form like this they often break down bearishly Also I am quite bearish on the oil industry in general (for anyone that witnessed the oil drop to $0 barrel) and as the world heads towards more electrical vehicles The only bullish redeeming quality is the double bottom on the 2.618 fib...