Baker Hughes Crosses Below its 10-day MA (BHI)
Baker Hughes (NYSE:BHI) crossed under its 10-day moving average of $46.71 on a volume of 2.4 million shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
Over the past year, Baker Hughes has traded in a range of $37.58 to $70.45 and is now at $45.59, 21% above that low. The 200-day and 50-day moving averages have moved 0.36% lower and 0.77% higher over the past week, respectively.
SmarTrend recommended that subscribers consider buying shares of Baker Hughes on April 18th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $44.27. Since that recommendation, shares of Baker Hughes have risen 7.1%. We continue to monitor BHI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses Baker Hughes