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After Yesterday's Rally of 2.58% Shares Could Potentially Pullback

By Shiri Gupta

Baker Hughes (NYSE:BHI) traded in a range yesterday that spanned from a low of $50.22 to a high of $51.35. Yesterday, the shares gained 2.6%, which took the trading range above the 3-day high of $50.78 on volume of 2.5 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend is tracking the current trend status for Baker Hughes and will alert subscribers who have BHI in their portfolio or watchlist when shares have changed trend direction.

In the past 52 weeks, Baker Hughes share prices have been bracketed by a low of $37.58 and a high of $70.45 and are now at $51.23, 36% above that low price. The 200-day and 50-day moving averages have moved 0.56% lower and 0.56% higher over the past week, respectively.

Keywords: rebounders Baker Hughes

Ticker(s): BHI