Baker Hughes seeks a bottom to bolster it - Analysis - 22-11-2022

Economies.com
2022-11-22 12:41PM UTC

Baker Hughes' stock (BKR) fell in the intraday levels, while seeking a bottom to help it gather positive momentum and regain lost ground, marking a loss of 1.41% in the last session, or 41 cents, while settling at 28.72, amid the dominance of the upward correctional wave in the short term, with support from the 50-day SMA, as the RSI reached oversold levels compared to the stock's movements. 

 

Therefore we expect the stock to return higher, targeting the resistance of 29.97 anew, provided the support of 26.96 holds on.

 

Expected trend for today: Bullish

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